Argyle Capital Management Inc. Sells 30,400 Shares of Amcor plc (NYSE:AMCR)

Argyle Capital Management Inc. decreased its position in shares of Amcor plc (NYSE:AMCR) by 27.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,044 shares of the company’s stock after selling 30,400 shares during the period. Argyle Capital Management Inc.’s holdings in Amcor were worth $762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in Amcor by 1,619.5% during the 3rd quarter. Signaturefd LLC now owns 3,267 shares of the company’s stock worth $30,000 after acquiring an additional 3,077 shares during the period. Cary Street Partners Investment Advisory LLC bought a new stake in Amcor during the 3rd quarter worth approximately $38,000. McGlone Suttner Wealth Management Inc. bought a new stake in Amcor during the 4th quarter worth approximately $40,000. Loomis Sayles & Co. L P raised its position in shares of Amcor by 48.2% during the third quarter. Loomis Sayles & Co. L P now owns 4,445 shares of the company’s stock valued at $41,000 after buying an additional 1,445 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Amcor during the third quarter valued at approximately $46,000. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of Amcor stock traded up $0.02 on Friday, hitting $8.97. 5,732,955 shares of the company traded hands, compared to its average volume of 6,045,468. The stock has a market capitalization of $12.96 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 9.86 and a beta of 0.78. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.71 and a current ratio of 1.25. Amcor plc has a 52 week low of $8.45 and a 52 week high of $11.09. The business has a 50-day simple moving average of $9.19 and a 200 day simple moving average of $9.27.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Amcor had a net margin of 4.59% and a return on equity of 24.28%. Research analysts expect that Amcor plc will post 0.68 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.57%. The ex-dividend date of this dividend was Tuesday, February 27th. Amcor’s payout ratio is currently 113.64%.

Amcor Profile

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.