Ilmarinen Mutual Pension Insurance Co Takes $2.50 Million Position in Amcor PLC $AMCR

Ilmarinen Mutual Pension Insurance Co acquired a new position in Amcor PLC (NYSE:AMCR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 300,000 shares of the company’s stock, valued at approximately $2,502,000. Ilmarinen Mutual Pension Insurance Co owned 0.06% of Amcor at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Moors & Cabot Inc. lifted its stake in Amcor by 25.0% in the 4th quarter. Moors & Cabot Inc. now owns 16,679 shares of the company’s stock worth $139,000 after purchasing an additional 3,335 shares in the last quarter. Huntington National Bank raised its position in shares of Amcor by 68.8% during the 4th quarter. Huntington National Bank now owns 7,581 shares of the company’s stock valued at $63,000 after buying an additional 3,091 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Amcor by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock valued at $533,487,000 after buying an additional 262,418 shares in the last quarter. Allstate Corp raised its position in Amcor by 115.4% in the 4th quarter. Allstate Corp now owns 198,603 shares of the company’s stock worth $1,656,000 after purchasing an additional 106,406 shares during the period. Finally, Summitry LLC purchased a new position in Amcor in the 4th quarter worth $152,000. 45.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMCR. JPMorgan Chase & Co. cut their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. Robert W. Baird set a $54.00 price target on shares of Amcor in a research report on Wednesday, February 4th. Truist Financial reiterated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Finally, Citigroup dropped their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.33.

Amcor Stock Performance

Shares of NYSE AMCR opened at $38.87 on Friday. The firm has a fifty day moving average price of $39.45 and a 200-day moving average price of $42.27. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The stock has a market cap of $17.97 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.19 and a beta of 0.63. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94.

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

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

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.