TD Waterhouse Canada Inc. Buys New Stake in Ardagh Metal Packaging S.A. $AMBP

TD Waterhouse Canada Inc. purchased a new position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 107,586 shares of the company’s stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Ardagh Metal Packaging by 697.8% in the first quarter. AQR Capital Management LLC now owns 317,625 shares of the company’s stock valued at $959,000 after buying an additional 277,813 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ardagh Metal Packaging during the 1st quarter valued at about $43,000. Creative Planning acquired a new stake in shares of Ardagh Metal Packaging during the 2nd quarter valued at about $109,000. JPMorgan Chase & Co. increased its stake in shares of Ardagh Metal Packaging by 310.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 729,506 shares of the company’s stock valued at $3,122,000 after purchasing an additional 551,616 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Ardagh Metal Packaging in the 2nd quarter valued at about $224,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMBP shares. UBS Group increased their price target on Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Ardagh Metal Packaging in a research report on Thursday, August 20th. They issued a “hold” rating and a $5.20 price objective for the company. Weiss Ratings raised Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 7th. Citigroup reiterated a “buy” rating on shares of Ardagh Metal Packaging in a research report on Friday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.92.

Ardagh Metal Packaging Stock Down 2.1%

Shares of AMBP opened at $4.79 on Friday. Ardagh Metal Packaging S.A. has a 52-week low of $3.29 and a 52-week high of $5.47. The stock has a market cap of $2.87 billion, a PE ratio of 79.93, a price-to-earnings-growth ratio of 0.89 and a beta of 0.51. The firm’s fifty day moving average is $4.93 and its two-hundred day moving average is $4.45.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Ardagh Metal Packaging had a net margin of 0.68% and a negative return on equity of 27.93%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the business posted $0.08 earnings per share. Ardagh Metal Packaging’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, research analysts anticipate that Ardagh Metal Packaging S.A. will post 0.28 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.40 dividend on an annualized basis and a yield of 8.3%. Ardagh Metal Packaging’s payout ratio is 666.67%.

About Ardagh Metal Packaging

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.