Financial Engines Advisors L.L.C. Cuts Stock Position in Amcor plc (NYSE:AMCR)

Financial Engines Advisors L.L.C. cut its holdings in shares of Amcor plc (NYSE:AMCR – Get Rating) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,562 shares of the company’s stock after selling 15,601 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in Amcor were worth $2,289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Amcor by 3.2% in the third quarter. Geode Capital Management LLC now owns 28,090,729 shares of the company’s stock valued at $324,725,000 after purchasing an additional 862,033 shares during the last quarter. Invesco Ltd. increased its stake in shares of Amcor by 4.7% in the third quarter. Invesco Ltd. now owns 18,845,197 shares of the company’s stock worth $218,416,000 after purchasing an additional 841,258 shares in the last quarter. Polaris Capital Management LLC raised its position in shares of Amcor by 0.5% in the fourth quarter. Polaris Capital Management LLC now owns 13,348,372 shares of the company’s stock valued at $160,314,000 after purchasing an additional 67,100 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Amcor by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,000,189 shares of the company’s stock valued at $132,100,000 after buying an additional 311,955 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Amcor by 35.4% in the 3rd quarter. Goldman Sachs Group Inc. now owns 7,635,009 shares of the company’s stock worth $88,490,000 after buying an additional 1,994,381 shares during the period. Institutional investors own 43.56% of the company’s stock.

Shares of NYSE:AMCR traded up $0.04 during midday trading on Tuesday, reaching $12.65. The company’s stock had a trading volume of 466,890 shares, compared to its average volume of 9,048,536. Amcor plc has a 12-month low of $10.66 and a 12-month high of $13.18. The firm has a 50 day moving average of $11.62 and a 200-day moving average of $11.79. The firm has a market capitalization of $19.15 billion, a P/E ratio of 20.53, a PEG ratio of 1.61 and a beta of 0.78. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 1.57.

Amcor (NYSE:AMCR – Get Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.40 billion. Amcor had a return on equity of 26.05% and a net margin of 6.75%. Amcor’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, research analysts predict that Amcor plc will post 0.81 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Wednesday, May 25th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, May 24th. This represents a $0.48 annualized dividend and a yield of 3.79%. Amcor’s payout ratio is 77.42%.

In other Amcor news, EVP Ian Wilson sold 54,060 shares of Amcor stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $12.64, for a total value of $683,318.40. Following the transaction, the executive vice president now owns 150,138 shares in the company, valued at $1,897,744.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Julie Marie Sorrells sold 17,283 shares of the stock in a transaction on Friday, May 6th. The shares were sold at an average price of $12.55, for a total value of $216,901.65. Following the sale, the vice president now owns 20,733 shares of the company’s stock, valued at approximately $260,199.15. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on the company. Bank of America downgraded Amcor from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $13.40 to $12.30 in a research report on Friday, March 25th. Truist Financial began coverage on Amcor in a research note on Friday, March 25th. They issued a “hold” rating and a $12.00 target price on the stock. Finally, TheStreet cut Amcor from a “b-” rating to a “c” rating in a report on Thursday, February 24th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Amcor currently has an average rating of “Hold” and a consensus price target of $12.76.

Amcor Profile (Get Rating)

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.

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