Amalgamated Bank Sells 5,796 Shares of Amcor plc (NYSE:AMCR)

Amalgamated Bank lowered its holdings in shares of Amcor plc (NYSE:AMCR) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 277,828 shares of the company’s stock after selling 5,796 shares during the period. Amalgamated Bank’s holdings in Amcor were worth $2,614,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FourThought Financial Partners LLC bought a new position in shares of Amcor during the 4th quarter worth approximately $121,000. Blackhawk Capital Partners LLC. lifted its holdings in Amcor by 20.2% during the 4th quarter. Blackhawk Capital Partners LLC. now owns 228,998 shares of the company’s stock valued at $2,155,000 after purchasing an additional 38,538 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in Amcor during the fourth quarter worth $4,465,000. Howard Capital Management Inc. acquired a new position in shares of Amcor in the fourth quarter valued at $238,000. Finally, Nan Fung Trinity HK Ltd. raised its position in shares of Amcor by 61.2% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 2,719,680 shares of the company’s stock valued at $25,592,000 after purchasing an additional 1,032,400 shares during the period. Institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMCR. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amcor has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Price Performance

Amcor stock opened at $10.11 on Friday. The firm has a market cap of $14.61 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The stock’s fifty day moving average price is $9.78 and its two-hundred day moving average price is $10.41. Amcor plc has a one year low of $8.80 and a one year high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.