Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Amcor plc (NYSE:AMCR) by 169.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 496,897 shares of the company’s stock after purchasing an additional 312,780 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Amcor were worth $4,845,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Private Trust Co. NA boosted its position in Amcor by 6.3% during the third quarter. Private Trust Co. NA now owns 24,511 shares of the company’s stock worth $238,000 after purchasing an additional 1,461 shares in the last quarter. CENTRAL TRUST Co purchased a new position in Amcor during the second quarter worth approximately $28,000. North Star Investment Management Corp. purchased a new position in Amcor during the third quarter worth approximately $25,000. QCI Asset Management Inc. NY purchased a new position in Amcor during the second quarter worth approximately $31,000. Finally, Tyers Asset Management LLC purchased a new position in Amcor during the second quarter worth approximately $31,000. Institutional investors own 26.58% of the company’s stock.
A number of equities analysts have issued reports on AMCR shares. ValuEngine downgraded Amcor from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Jefferies Financial Group started coverage on Amcor in a research report on Tuesday. They set an “underperform” rating on the stock.
Shares of NYSE AMCR traded down $0.28 during midday trading on Thursday, hitting $9.43. The stock had a trading volume of 117,934 shares, compared to its average volume of 5,186,305. The firm has a market capitalization of $15.60 billion, a P/E ratio of 15.45 and a beta of 0.76. The company’s 50 day simple moving average is $9.68. Amcor plc has a 1 year low of $8.75 and a 1 year high of $11.77. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.15 and a quick ratio of 0.72.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 11th were given a $0.12 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.48 annualized dividend and a dividend yield of 5.09%. Amcor’s dividend payout ratio (DPR) is presently 78.69%.
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.
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