WBI Investments Inc. Invests $268,000 in Amcor plc (NYSE:AMCR)

WBI Investments Inc. acquired a new position in shares of Amcor plc (NYSE:AMCR) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 23,388 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Berman Capital Advisors LLC grew its stake in Amcor by 363.9% in the second quarter. Berman Capital Advisors LLC now owns 3,210 shares of the company’s stock valued at $36,000 after purchasing an additional 2,518 shares in the last quarter. RMR Wealth Builders grew its holdings in Amcor by 134.8% in the 1st quarter. RMR Wealth Builders now owns 3,344 shares of the company’s stock valued at $39,000 after buying an additional 1,920 shares in the last quarter. CSat Investment Advisory L.P. increased its position in Amcor by 33.2% during the first quarter. CSat Investment Advisory L.P. now owns 3,795 shares of the company’s stock worth $44,000 after acquiring an additional 945 shares during the period. Tradition Wealth Management LLC bought a new position in shares of Amcor during the second quarter worth approximately $46,000. Finally, CX Institutional lifted its position in shares of Amcor by 66.0% during the 2nd quarter. CX Institutional now owns 4,481 shares of the company’s stock valued at $51,000 after acquiring an additional 1,782 shares during the period. Institutional investors and hedge funds own 38.10% of the company’s stock.

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group lowered shares of Amcor from a “neutral” rating to a “sell” rating and decreased their price target for the company from $12.00 to $11.50 in a report on Wednesday, August 18th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 1st. Zacks Investment Research raised shares of Amcor from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Wednesday, July 21st. Finally, Jefferies Financial Group lowered shares of Amcor from a “hold” rating to an “underperform” rating and set a $15.00 price objective for the company. in a research note on Tuesday, September 7th. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.77.

In related news, insider Eric V. Roegner sold 303,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $12.30, for a total value of $3,726,900.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Zacka sold 73,000 shares of the company’s stock in a transaction on Friday, August 20th. The shares were sold at an average price of $12.33, for a total transaction of $900,090.00. Following the completion of the sale, the insider now directly owns 162,881 shares in the company, valued at $2,008,322.73. The disclosure for this sale can be found here. Insiders have sold 1,043,864 shares of company stock worth $13,108,520 in the last quarter. Company insiders own 0.28% of the company’s stock.

Shares of Amcor stock opened at $11.67 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.75 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $17.95 billion, a P/E ratio of 19.45, a P/E/G ratio of 2.41 and a beta of 0.90. The business has a fifty day simple moving average of $12.12 and a two-hundred day simple moving average of $11.90. Amcor plc has a 12 month low of $10.26 and a 12 month high of $12.92.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Monday, August 16th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. Amcor had a return on equity of 23.89% and a net margin of 7.30%. The business had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.33 billion. Analysts predict that Amcor plc will post 0.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 28th. Stockholders of record on Wednesday, September 8th were given a dividend of $0.1175 per share. The ex-dividend date was Tuesday, September 7th. This represents a $0.47 annualized dividend and a dividend yield of 4.03%. This is an increase from Amcor’s previous quarterly dividend of $0.12. Amcor’s payout ratio is currently 63.51%.

Amcor Profile

Amcor Plc operates as a holding company, which engages in the provision of consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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