Ardagh Metal Packaging (NYSE:AMBP) Sees Strong Trading Volume – Here’s What Happened

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) saw strong trading volume on Wednesday . 1,686,086 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 1,357,546 shares.The stock last traded at $4.0150 and had previously closed at $3.97.

Analysts Set New Price Targets

AMBP has been the subject of a number of analyst reports. UBS Group cut their price target on shares of Ardagh Metal Packaging from $4.75 to $4.25 and set a “neutral” rating for the company in a research note on Friday, April 10th. Wells Fargo & Company cut their target price on shares of Ardagh Metal Packaging from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Friday, March 20th. Weiss Ratings upgraded shares of Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Finally, Citigroup cut their target price on shares of Ardagh Metal Packaging from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.51.

Ardagh Metal Packaging Stock Up 2.3%

The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 0.86 and a beta of 0.54. The business’s fifty day moving average is $4.05 and its two-hundred day moving average is $4.14.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. Ardagh Metal Packaging had a net margin of 0.19% and a negative return on equity of 31.14%. The business had revenue of $1.50 billion during the quarter. Research analysts forecast that Ardagh Metal Packaging S.A. will post 0.25 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Thursday, June 11th.

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of hedge funds and other institutional investors have recently made changes to their positions in AMBP. Kestra Advisory Services LLC acquired a new position in Ardagh Metal Packaging in the 4th quarter worth $33,000. Capital Investment Advisory Services LLC acquired a new position in Ardagh Metal Packaging in the 3rd quarter worth $40,000. Pallas Capital Advisors LLC acquired a new position in Ardagh Metal Packaging in the 4th quarter worth $42,000. Abel Hall LLC acquired a new position in Ardagh Metal Packaging in the 1st quarter worth $42,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Ardagh Metal Packaging in the 1st quarter worth $43,000. 16.93% of the stock is owned by institutional investors.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.