Amcor (NYSE:AMCR) Reaches New 52-Week Low at $9.13

Amcor plc (NYSE:AMCR) hit a new 52-week low during trading on Tuesday . The stock traded as low as $9.13 and last traded at $9.14, with a volume of 1454042 shares trading hands. The stock had previously closed at $9.28.

Analyst Upgrades and Downgrades

Separately, Bank of America lowered shares of Amcor from a “buy” rating to an “underperform” rating in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Amcor presently has an average rating of “Hold” and a consensus price target of $10.80.

Amcor Trading Down 0.9 %

The firm has a market cap of $13.33 billion, a PE ratio of 13.00, a PEG ratio of 6.20 and a beta of 0.79. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.19 and a quick ratio of 0.69. The business has a 50-day moving average price of $9.71 and a two-hundred day moving average price of $10.24.

Amcor (NYSE:AMCR) last posted its earnings results on Wednesday, August 16th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Amcor had a net margin of 7.14% and a return on equity of 25.98%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.87 billion. Analysts forecast that Amcor plc will post 0.69 EPS for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Thursday, September 7th will be paid a $0.1225 dividend. This represents a $0.49 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date is Wednesday, September 6th. Amcor’s payout ratio is currently 69.01%.

Insiders Place Their Bets

In other news, Director Arun Nayar sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $9.40, for a total value of $282,000.00. Following the sale, the director now directly owns 45,072 shares in the company, valued at $423,676.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amcor

A number of institutional investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its position in Amcor by 117.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,397 shares of the company’s stock worth $27,000 after buying an additional 1,296 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Amcor during the 1st quarter worth about $27,000. Money Concepts Capital Corp acquired a new stake in shares of Amcor in the fourth quarter worth approximately $31,000. Clear Street Markets LLC grew its holdings in Amcor by 93.6% in the first quarter. Clear Street Markets LLC now owns 2,913 shares of the company’s stock valued at $33,000 after purchasing an additional 1,408 shares during the period. Finally, West Tower Group LLC acquired a new position in Amcor during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 49.52% of the company’s stock.

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.