Daiwa Securities Group Inc. Buys 18,352 Shares of Amcor plc (NYSE:AMCR)

Daiwa Securities Group Inc. grew its stake in shares of Amcor plc (NYSE:AMCR) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,613 shares of the company’s stock after buying an additional 18,352 shares during the period. Daiwa Securities Group Inc.’s holdings in Amcor were worth $2,001,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMCR. M&G PLC grew its holdings in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. M&G Plc grew its holdings in shares of Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after purchasing an additional 1,960,308 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Amcor by 7.8% during the second quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock worth $194,783,000 after purchasing an additional 1,443,364 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after purchasing an additional 1,527,492 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Up 1.1 %

Shares of AMCR opened at $10.50 on Friday. The firm has a market cap of $15.18 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.89 and a beta of 0.85. The stock has a 50 day simple moving average of $10.80 and a two-hundred day simple moving average of $10.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48.

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

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 4.86%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is presently 96.23%.

Analyst Ratings Changes

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

Amcor Company 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.