Ardagh Metal Packaging (NYSE:AMBP) Trading Up 6.7% After Dividend Announcement

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s share price rose 6.7% during trading on Thursday after the company announced a dividend. The stock traded as high as $4.04 and last traded at $3.98. Approximately 918,827 shares were traded during trading, a decline of 23% from the average daily volume of 1,193,984 shares. The stock had previously closed at $3.73.

The newly announced dividend which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.88%. The ex-dividend date is Wednesday, June 12th. Ardagh Metal Packaging’s payout ratio is -285.69%.

Analyst Ratings Changes

AMBP has been the topic of a number of recent analyst reports. Bank of America lowered Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and cut their target price for the company from $4.10 to $3.50 in a research report on Monday, April 1st. Barclays lowered Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 target price on the stock. in a research report on Monday, January 8th. Wells Fargo & Company upped their target price on Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. UBS Group initiated coverage on Ardagh Metal Packaging in a research report on Tuesday, January 16th. They set a “buy” rating and a $5.00 price target on the stock. Finally, Truist Financial reissued a “hold” rating and set a $3.00 price target (down from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.31.

Ardagh Metal Packaging Trading Up 1.0 %

The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 34.34. The company has a 50-day simple moving average of $3.48 and a two-hundred day simple moving average of $3.56.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Ardagh Metal Packaging had a positive return on equity of 43.89% and a negative net margin of 1.26%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company earned $0.01 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of Ardagh Metal Packaging by 0.7% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 435,522 shares of the company’s stock worth $1,363,000 after purchasing an additional 2,915 shares in the last quarter. Greenwich Wealth Management LLC grew its holdings in Ardagh Metal Packaging by 29.7% during the third quarter. Greenwich Wealth Management LLC now owns 14,780 shares of the company’s stock worth $46,000 after acquiring an additional 3,388 shares during the period. Principle Wealth Partners LLC grew its holdings in Ardagh Metal Packaging by 7.5% during the fourth quarter. Principle Wealth Partners LLC now owns 50,315 shares of the company’s stock worth $193,000 after acquiring an additional 3,495 shares during the period. Bfsg LLC grew its holdings in Ardagh Metal Packaging by 9.2% during the fourth quarter. Bfsg LLC now owns 48,275 shares of the company’s stock worth $185,000 after acquiring an additional 4,050 shares during the period. Finally, Signaturefd LLC grew its holdings in Ardagh Metal Packaging by 44.9% during the fourth quarter. Signaturefd LLC now owns 21,066 shares of the company’s stock worth $81,000 after acquiring an additional 6,531 shares during the period. Institutional investors own 16.93% of the company’s stock.

Ardagh Metal Packaging Company Profile

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.