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James T. Glerum Jr., a director at Berry Global Group, Inc. (NYSE:BERY), recently made significant stock purchases, according to a recent SEC filing. On December 13, 2024, Glerum acquired a total of 311 shares of Berry Global’s common stock at a price of $68.12 per share, amounting to an investment of approximately $21,185. These shares were bought through the James T. Glerum Investment Trust and the Mary E. Glerum Gift Trust. The timing appears strategic, as InvestingPro analysis indicates Berry Global is currently undervalued, with the company maintaining a GOOD financial health score and showing a strong free cash flow yield.
In subsequent transactions dated April 30, 2025, Glerum disposed of 311 shares, including 132 shares from the James T. Glerum Investment Trust and 179 shares from the Mary E. Glerum Gift Trust, as part of the completion of Berry Global’s merger with Amcor (NYSE:AMCR) plc. This merger converted Berry Global shares into Amcor shares, as outlined in the merger agreement. Additionally, 2,092 restricted stock units were converted as part of the merger terms. Berry Global has demonstrated solid performance with a 28% one-year return and maintains a P/E ratio of 14.2, suggesting reasonable valuation metrics. Get deeper insights into Berry Global’s valuation and 7 additional key ProTips with an InvestingPro subscription.
These transactions reflect Glerum’s active engagement in Berry Global’s stock amidst the company’s merger activities, with the company showing strong fundamentals including $10.12 billion in revenue and a healthy 20.2% gross profit margin over the last twelve months.
In other recent news, Amcor plc reported its fiscal third-quarter earnings and revenue, which fell short of analyst expectations. The company posted adjusted earnings per share of $0.18, missing the forecast of $0.19, while revenue reached $3.33 billion, below the anticipated $3.49 billion and reflecting a 2% decrease year-over-year. Despite these results, Amcor announced the completion of its merger with Berry Global, describing it as a "transformational merger" that was finalized earlier than expected. CEO Peter Konieczny highlighted that the merger enhances Amcor’s position in key categories and expands its capabilities. For the first nine months of fiscal 2025, Amcor reported net sales of $9.93 billion, a 2% decline year-over-year, although adjusted EBIT rose by 3% on a comparable constant currency basis to $1.11 billion. The company adjusted its fiscal 2025 earnings per share guidance to a range of $0.72-$0.74, incorporating the merger impacts for May and June. Amcor also expects adjusted free cash flow of $900 million to $1 billion. The company is focused on delivering $650 million in identified synergies over three years, with a dedicated team executing these plans. Additionally, Amcor increased its quarterly dividend to 12.75 cents per share, up from 12.5 cents last year.
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