Dai Ichi Life Insurance Company Ltd trimmed its stake in shares of Amcor plc (NYSE:AMCR) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,566 shares of the company’s stock after selling 2,707 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Amcor were worth $3,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of AMCR. Polaris Capital Management LLC bought a new stake in shares of Amcor in the 1st quarter worth approximately $76,166,000. Prudential PLC acquired a new position in Amcor during the first quarter worth about $67,999,000. BlackRock Inc. grew its position in shares of Amcor by 6.2% in the first quarter. BlackRock Inc. now owns 96,522,436 shares of the company’s stock valued at $783,762,000 after purchasing an additional 5,617,023 shares during the last quarter. Invesco Ltd. grew its position in shares of Amcor by 54.9% in the first quarter. Invesco Ltd. now owns 12,659,628 shares of the company’s stock valued at $102,798,000 after purchasing an additional 4,486,391 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Amcor by 26.6% in the second quarter. Bank of New York Mellon Corp now owns 11,679,718 shares of the company’s stock valued at $119,249,000 after purchasing an additional 2,456,591 shares during the last quarter. Institutional investors and hedge funds own 33.46% of the company’s stock.
AMCR has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Amcor from a “hold” rating to a “sell” rating in a research note on Wednesday, June 17th. Deutsche Bank raised their price objective on shares of Amcor from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, August 21st. BMO Capital Markets raised their price objective on shares of Amcor from $9.00 to $11.00 in a report on Wednesday, August 19th. Credit Suisse Group lowered shares of Amcor from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 10th. Finally, Bank of America initiated coverage on shares of Amcor in a report on Wednesday, July 8th. They set a “neutral” rating and a $11.50 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.09.
In other news, insider Peter Konieczny sold 48,989 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $11.25, for a total transaction of $551,126.25. Following the completion of the transaction, the insider now directly owns 285,494 shares in the company, valued at approximately $3,211,807.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.23% of the company’s stock.
Shares of AMCR opened at $11.06 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.14 and a debt-to-equity ratio of 1.29. Amcor plc has a twelve month low of $5.80 and a twelve month high of $11.59. The stock has a market capitalization of $17.65 billion, a P/E ratio of 17.28, a P/E/G ratio of 2.23 and a beta of 0.86. The company has a 50 day moving average of $10.85 and a 200-day moving average of $9.65.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Thursday, September 3rd will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Wednesday, September 2nd. Amcor’s dividend payout ratio (DPR) is currently 71.88%.
Amcor Company Profile
Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.
Recommended Story: Pattern Day Trader – What is the PDT Rule?
Receive News & Ratings for Amcor Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Amcor and related companies with MarketBeat.com’s FREE daily email newsletter.