Amcor PLC (AMCR) To Go Ex-Dividend on May 28th

Amcor PLC (NYSE:AMCR) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Thursday, May 28th will be paid a dividend of 0.65 per share on Wednesday, June 17th. This represents a c) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Thursday, May 28th.

Amcor has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Amcor has a dividend payout ratio of 317.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Amcor to earn $4.26 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 61.0%.

Amcor Trading Up 0.1%

Shares of AMCR stock opened at $38.43 on Tuesday. Amcor has a 1 year low of $36.25 and a 1 year high of $50.94. The firm’s fifty day simple moving average is $39.55 and its 200 day simple moving average is $42.34. The firm has a market capitalization of $17.77 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 1.16 and a beta of 0.63. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. Amcor’s revenue was up 77.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, sell-side analysts predict that Amcor will post 3.97 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Amcor by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after purchasing an additional 20,757 shares during the period. Focus Partners Wealth lifted its position in Amcor by 11.3% during the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after purchasing an additional 4,396 shares during the period. Sivia Capital Partners LLC acquired a new position in Amcor during the 2nd quarter valued at about $138,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Amcor in the 2nd quarter valued at about $6,426,000. Finally, CW Advisors LLC bought a new stake in shares of Amcor in the 2nd quarter valued at about $228,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

About Amcor

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.