Clearbridge Investments LLC lowered its stake in Ardagh Group S.A. (NYSE:ARD) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,881,397 shares of the company’s stock after selling 10,998 shares during the quarter. Clearbridge Investments LLC owned 10.10% of Ardagh Group worth $39,697,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Ardagh Group by 20.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 35,348 shares of the company’s stock valued at $756,000 after acquiring an additional 5,945 shares during the period. California State Teachers Retirement System acquired a new stake in Ardagh Group in the 2nd quarter valued at $758,000. Mackenzie Financial Corp grew its stake in Ardagh Group by 35.2% in the 3rd quarter. Mackenzie Financial Corp now owns 386,821 shares of the company’s stock valued at $8,282,000 after acquiring an additional 100,708 shares during the period. Schroder Investment Management Group grew its stake in Ardagh Group by 24.2% in the 4th quarter. Schroder Investment Management Group now owns 1,043,891 shares of the company’s stock valued at $22,026,000 after acquiring an additional 203,387 shares during the period. Finally, Balter Liquid Alternatives LLC acquired a new stake in Ardagh Group in the 4th quarter valued at $460,000. 91.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ardagh Group stock opened at $18.54 on Thursday. Ardagh Group S.A. has a one year low of $17.43 and a one year high of $24.54. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of -6.04. The stock has a market cap of $347.73 and a price-to-earnings ratio of 74.16.
Ardagh Group (NYSE:ARD) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.04. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ardagh Group had a net margin of 0.78% and a negative return on equity of 31.99%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. sell-side analysts forecast that Ardagh Group S.A. will post 1.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.56 annualized dividend and a dividend yield of 3.02%. Ardagh Group’s payout ratio is 224.00%.
ARD has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Ardagh Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. ValuEngine cut shares of Ardagh Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Wells Fargo cut shares of Ardagh Group from an “outperform” rating to a “market perform” rating in a research note on Friday, February 23rd. Finally, Barclays reaffirmed an “equal weight” rating and set a $21.00 target price (down previously from $23.00) on shares of Ardagh Group in a research note on Thursday, March 1st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ardagh Group currently has a consensus rating of “Buy” and a consensus target price of $23.95.
Ardagh Group Profile
Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.
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