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Peter Konieczny, the Chief Executive Officer of Amcor plc (NYSE:AMCR), recently acquired 100,000 ordinary shares of the company. The shares were purchased at a weighted average price of $10.0478, amounting to a total transaction value of approximately $1,004,780. The purchase comes as Amcor trades near $10 per share, offering a notable 5.1% dividend yield. According to InvestingPro analysis, the stock appears to be trading close to its Fair Value. Following this acquisition, Konieczny’s direct ownership in Amcor stands at 459,395 shares. The purchase, executed on February 10, was disclosed in a regulatory filing submitted to the Securities and Exchange Commission. With an overall Financial Health score rated as "FAIR" and consistent dividend growth for six consecutive years, InvestingPro subscribers can access detailed analysis and 7 additional key insights about Amcor’s financial outlook through the comprehensive Pro Research Report.
In other recent news, Amcor plc reported its Q2 earnings, which met analyst expectations, even though revenues fell short of predictions. This global packaging company also confirmed its full-year guidance, aligning with current market forecasts. The company reported adjusted earnings per share (EPS) of $0.16 for the quarter that ended in December 2024, matching analyst consensus. However, revenue came in at $3.24 billion, under the anticipated $3.36 billion. Notably, Amcor’s adjusted EBIT for the quarter rose 5% to $363 million, marking its fourth consecutive quarter of sequential volume improvement.
In terms of future prospects, Amcor reaffirmed its fiscal year 2025 outlook, projecting an adjusted EPS between $0.72 and $0.76, which is consistent with the current analyst consensus of $0.74 per share. The company also announced a merger with Berry Global, which is expected to enhance the company’s organic growth through a focus on customers, sustainability, and portfolio mix. Lastly, Amcor declared a quarterly cash dividend of 12.75 cents per share, an increase from 12.5 cents per share in the same quarter last year. These are some of the recent developments in the company.
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