Nixon Peabody Trust Co. Lowers Stock Position in Amcor plc (NYSE:AMCR)

Nixon Peabody Trust Co. lowered its position in Amcor plc (NYSE:AMCR) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,967 shares of the company’s stock after selling 8,482 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Amcor were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its position in Amcor by 1.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 163,234 shares of the company’s stock worth $1,850,000 after purchasing an additional 3,019 shares during the period. Claro Advisors LLC purchased a new stake in shares of Amcor in the third quarter worth about $152,000. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Amcor in the third quarter valued at about $399,000. Natixis Advisors LLC raised its holdings in shares of Amcor by 24.5% during the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after buying an additional 124,945 shares during the period. Finally, Empowered Funds LLC lifted its position in Amcor by 6.0% during the 3rd quarter. Empowered Funds LLC now owns 133,379 shares of the company’s stock worth $1,511,000 after acquiring an additional 7,507 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of NYSE AMCR traded up $0.04 during mid-day trading on Monday, hitting $10.26. The company had a trading volume of 365,431 shares, compared to its average volume of 8,769,683. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.84 and a beta of 0.85. The firm’s 50 day simple moving average is $10.92 and its two-hundred day simple moving average is $10.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $0.16 EPS. Amcor’s revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 4.97%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s dividend payout ratio is 94.34%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMCR. Wells Fargo & Company lifted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.94.

About Amcor

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.