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Achal Agarwal, a director at Amcor plc (NYSE:AMCR), a $15 billion market cap packaging company currently trading at $10.39, recently acquired a significant amount of the company’s ordinary shares. According to InvestingPro analysis, the company offers an attractive 5% dividend yield and has raised its dividend for six consecutive years. According to a filing with the Securities and Exchange Commission, Agarwal purchased a total of 40,000 shares over two days, February 18 and 19, 2025. The transactions were executed at prices ranging from $10.0893 to $10.10 per share, amounting to a total investment of $403,793. InvestingPro data shows the stock is currently trading at a low P/E ratio relative to its near-term earnings growth, with 5 additional exclusive insights available to subscribers.
Following these acquisitions, Agarwal’s direct ownership in Amcor plc increased to 78,967 shares. The purchases reflect a continued interest in the company’s stock, as Agarwal strengthens his position in the global packaging company headquartered in Warmley, Bristol. For comprehensive insider trading analysis and access to Amcor’s detailed Pro Research Report, visit InvestingPro.
In other recent news, Amcor reported second-quarter earnings that aligned with analyst expectations, while revenue fell short of projections. The company posted adjusted earnings per share of $0.16, matching the consensus, but revenue was $3.24 billion, missing the forecasted $3.36 billion. Despite the revenue shortfall, Amcor’s adjusted EBIT rose by 5% on a comparable constant currency basis to $363 million. The company also reaffirmed its fiscal year 2025 outlook, projecting adjusted EPS between $0.72 and $0.76, consistent with the analyst consensus of $0.74 per share.
Amcor announced a merger with Berry Global, aiming to strengthen its position through enhanced volume-driven organic growth. CEO Peter Konieczny emphasized the strategic benefits, highlighting a focus on customers, sustainability, and portfolio mix. Additionally, Amcor declared a quarterly cash dividend of 12.75 cents per share, an increase from the previous year’s 12.5 cents. These developments underscore Amcor’s ongoing efforts to execute its business strategy effectively.
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