O Shaughnessy Asset Management LLC Buys 1,157,878 Shares of Amcor plc (NYSE:AMCR)

O Shaughnessy Asset Management LLC grew its stake in Amcor plc (NYSE:AMCR) by 236.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,648,279 shares of the company’s stock after purchasing an additional 1,157,878 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.11% of Amcor worth $15,675,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Amcor in the 1st quarter valued at $28,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Amcor in the fourth quarter valued at about $40,000. MV Capital Management Inc. lifted its position in shares of Amcor by 33.7% during the fourth quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock valued at $50,000 after purchasing an additional 1,310 shares in the last quarter. Eagle Bay Advisors LLC boosted its holdings in Amcor by 55.5% during the fourth quarter. Eagle Bay Advisors LLC now owns 7,787 shares of the company’s stock worth $75,000 after purchasing an additional 2,779 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Amcor by 17.0% during the fourth quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock worth $80,000 after purchasing an additional 1,222 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMCR. Wells Fargo & Company started coverage on shares of Amcor in a research note on Friday, June 28th. They issued an “equal weight” rating and a $9.80 price objective for the company. JPMorgan Chase & Co. increased their price target on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus began coverage on Amcor in a report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target on the stock. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.15.

Amcor Stock Performance

AMCR stock traded down $0.06 during mid-day trading on Tuesday, hitting $10.09. The company had a trading volume of 10,195,221 shares, compared to its average volume of 8,790,832. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. The firm has a market cap of $14.58 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 4.46 and a beta of 0.86. Amcor plc has a 12 month low of $8.45 and a 12 month high of $10.51. The stock’s fifty day moving average price is $9.96 and its two-hundred day moving average price is $9.57.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. Amcor’s revenue was down 7.0% on a year-over-year basis. On average, analysts forecast that Amcor plc will post 0.7 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.50 annualized dividend and a dividend yield of 4.96%. Amcor’s payout ratio is 111.11%.

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.