Ardagh Metal Packaging (NYSE:AMBP) Sees Strong Trading Volume

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) saw an uptick in trading volume on Tuesday . 3,435,261 shares changed hands during mid-day trading, an increase of 196% from the previous session’s volume of 1,160,863 shares.The stock last traded at $3.38 and had previously closed at $3.33.

Analyst Ratings Changes

Several brokerages have commented on AMBP. Truist Financial reiterated a “hold” rating and issued a $3.00 price target (down from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. Barclays cut shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price target on the stock. in a research report on Monday, January 8th. Bank of America cut shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $4.10 to $3.50 in a research report on Monday, April 1st. Morgan Stanley began coverage on shares of Ardagh Metal Packaging in a research report on Monday, March 18th. They issued an “underweight” rating and a $3.20 price target on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.31.

Ardagh Metal Packaging Stock Up 2.4 %

The company has a debt-to-equity ratio of 34.34, a quick ratio of 0.68 and a current ratio of 0.99. The business’s 50 day simple moving average is $3.49 and its 200 day simple moving average is $3.53.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. Ardagh Metal Packaging’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 earnings per share. Sell-side analysts predict that Ardagh Metal Packaging S.A. will post 0.18 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 11.73%. Ardagh Metal Packaging’s dividend payout ratio is -333.33%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Large investors have recently made changes to their positions in the business. Keeley Teton Advisors LLC increased its holdings in Ardagh Metal Packaging by 15.0% in the third quarter. Keeley Teton Advisors LLC now owns 1,579,381 shares of the company’s stock worth $4,943,000 after buying an additional 206,295 shares during the last quarter. Aigen Investment Management LP increased its holdings in Ardagh Metal Packaging by 253.1% in the third quarter. Aigen Investment Management LP now owns 55,497 shares of the company’s stock worth $174,000 after buying an additional 39,780 shares during the last quarter. Barclays PLC increased its holdings in Ardagh Metal Packaging by 53.0% in the third quarter. Barclays PLC now owns 1,105,701 shares of the company’s stock worth $3,461,000 after buying an additional 383,081 shares during the last quarter. Wedmont Private Capital acquired a new position in Ardagh Metal Packaging in the fourth quarter worth approximately $39,000. Finally, BW Gestao de Investimentos Ltda. grew its holdings in Ardagh Metal Packaging by 771.2% during the third quarter. BW Gestao de Investimentos Ltda. now owns 2,783,639 shares of the company’s stock valued at $8,713,000 after purchasing an additional 2,464,105 shares during the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging SA, together with its subsidiaries, supplies consumer metal beverage cans in Europe, the United States, and Brazil. Its products are used in various end-use categories, including beer, carbonated soft drinks, energy drinks, hard seltzers, juices, pre-mixed cocktails, teas, sparkling waters, and wine.