Fed Governor Adriana Kugler to resign
Achal Agarwal, a director at Amcor plc (NYSE:AMCR), recently acquired 10,000 ordinary shares of the company, according to a regulatory filing. The packaging solutions provider, currently valued at $14.73 billion, has demonstrated strong shareholder-friendly policies with a notable 5.04% dividend yield. According to InvestingPro analysis, the stock is currently trading near its Fair Value. The shares were purchased at a price of $10.10 each, amounting to a total investment of $101,000. Following this transaction, Agarwal’s direct ownership stands at 88,967 shares. This acquisition highlights a significant increase in Agarwal’s stake in the company, reflecting continued confidence in Amcor’s prospects. InvestingPro data reveals the stock has maintained low price volatility, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other top US stocks.
In other recent news, Amcor plc reported second-quarter earnings that aligned with analyst expectations, though revenue fell short. The company posted adjusted earnings per share of $0.16, matching the analyst consensus, while revenue was reported at $3.24 billion, below the anticipated $3.36 billion. Despite the revenue shortfall, Amcor’s adjusted EBIT rose by 5% on a comparable constant currency basis, reaching $363 million. The company has also reaffirmed its fiscal year 2025 outlook, projecting adjusted EPS between $0.72 and $0.76, consistent with the current analyst consensus of $0.74 per share. Amcor announced a merger with Berry Global, which CEO Peter Konieczny believes will enhance the company’s growth through a focus on customer needs, sustainability, and portfolio diversification. Additionally, Amcor declared a quarterly cash dividend of 12.75 cents per share, an increase from the previous year. These developments reflect Amcor’s continued strategic efforts in the market.
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