IHT Wealth Management LLC Purchases 1,831 Shares of Amcor plc (NYSE:AMCR)

IHT Wealth Management LLC grew its position in shares of Amcor plc (NYSE:AMCR) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,597 shares of the company’s stock after buying an additional 1,831 shares during the period. IHT Wealth Management LLC’s holdings in Amcor were worth $313,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Amcor in the third quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new position in shares of Amcor in the third quarter worth approximately $35,000. True Wealth Design LLC lifted its stake in Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the period. Finally, Signaturefd LLC lifted its stake in Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares during the period. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

AMCR has been the topic of several recent analyst reports. Citigroup boosted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. upped their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Robert W. Baird upped their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Wells Fargo & Company upped their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.94.

Amcor Trading Up 0.2 %

Shares of Amcor stock opened at $10.20 on Tuesday. The stock has a fifty day simple moving average of $10.69 and a 200 day simple moving average of $10.52. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48. The company has a market capitalization of $14.74 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.83 and a beta of 0.82. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. Amcor’s revenue was down 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is 96.23%.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.