Loews Corp Has $24.54 Million Stock Holdings in Amcor PLC $AMCR

Loews Corp raised its position in shares of Amcor PLC (NYSE:AMCR) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,000,000 shares of the company’s stock after acquiring an additional 328,750 shares during the quarter. Amcor makes up approximately 0.2% of Loews Corp’s holdings, making the stock its 4th largest position. Loews Corp owned 0.13% of Amcor worth $24,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMCR. Rothschild Investment LLC lifted its stake in shares of Amcor by 4.2% in the 2nd quarter. Rothschild Investment LLC now owns 26,179 shares of the company’s stock valued at $241,000 after purchasing an additional 1,049 shares during the period. First County Bank CT grew its stake in Amcor by 5.8% in the third quarter. First County Bank CT now owns 23,142 shares of the company’s stock worth $189,000 after purchasing an additional 1,275 shares during the period. GAMMA Investing LLC raised its holdings in Amcor by 3.3% in the third quarter. GAMMA Investing LLC now owns 40,471 shares of the company’s stock worth $331,000 after purchasing an additional 1,305 shares in the last quarter. New York Life Investment Management LLC raised its holdings in Amcor by 0.4% in the third quarter. New York Life Investment Management LLC now owns 312,447 shares of the company’s stock worth $2,556,000 after purchasing an additional 1,314 shares in the last quarter. Finally, Parvin Asset Management LLC lifted its position in Amcor by 1.0% during the second quarter. Parvin Asset Management LLC now owns 145,332 shares of the company’s stock valued at $1,336,000 after buying an additional 1,500 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.2%

NYSE AMCR opened at $40.64 on Tuesday. Amcor PLC has a 12 month low of $38.33 and a 12 month high of $50.94. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average price is $45.45 and its 200-day moving average price is $42.78. The stock has a market cap of $18.78 billion, a P/E ratio of 26.56, a P/E/G ratio of 0.95 and a beta of 0.65.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $5.53 billion. Amcor had a return on equity of 15.57% and a net margin of 3.04%.Amcor’s quarterly revenue was up 68.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. As a group, equities analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Wednesday, February 25th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $2.60 annualized dividend and a yield of 6.4%. Amcor’s payout ratio is 169.93%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup restated a “buy” rating on shares of Amcor in a report on Thursday, February 12th. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a research note on Wednesday, January 28th. Wells Fargo & Company lifted their price target on shares of Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Truist Financial boosted their price objective on shares of Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average target price of $52.88.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.