Hartford Funds Management Co LLC Has $720,000 Holdings in Amcor PLC $AMCR

Hartford Funds Management Co LLC grew its stake in Amcor PLC (NYSE:AMCR) by 37.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,349 shares of the company’s stock after buying an additional 23,635 shares during the period. Hartford Funds Management Co LLC’s holdings in Amcor were worth $720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMCR. Quent Capital LLC acquired a new stake in shares of Amcor in the third quarter worth about $27,000. Brown Lisle Cummings Inc. lifted its position in shares of Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the last quarter. N.E.W. Advisory Services LLC lifted its position in shares of Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after buying an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Amcor in the second quarter worth about $36,000. Finally, Huntington National Bank lifted its position in shares of Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after buying an additional 2,020 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

NYSE AMCR opened at $37.49 on Tuesday. Amcor PLC has a twelve month low of $36.67 and a twelve month high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The stock has a market capitalization of $17.33 billion, a PE ratio of 26.22, a P/E/G ratio of 1.11 and a beta of 0.63. The stock has a 50-day simple moving average of $39.96 and a 200 day simple moving average of $42.39.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. The firm’s revenue was up 77.4% compared to the same quarter last year. Research analysts anticipate that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s payout ratio is currently 181.82%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Morgan Stanley cut Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a research report on Wednesday, January 28th. JPMorgan Chase & Co. reduced their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company cut Amcor from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $48.00 to $43.00 in a research report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.56.

Amcor Company 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.