Fmr LLC Cuts Stock Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Fmr LLC trimmed its holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 45.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 103,866 shares of the company’s stock after selling 88,153 shares during the period. Fmr LLC’s holdings in Ardagh Metal Packaging were worth $392,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ballentine Partners LLC bought a new stake in Ardagh Metal Packaging during the 3rd quarter valued at approximately $42,000. nVerses Capital LLC grew its holdings in Ardagh Metal Packaging by 70.4% during the 3rd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock valued at $46,000 after buying an additional 5,000 shares in the last quarter. Quarry LP bought a new stake in shares of Ardagh Metal Packaging during the second quarter valued at approximately $45,000. Signaturefd LLC raised its position in shares of Ardagh Metal Packaging by 23.1% during the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock valued at $71,000 after buying an additional 3,515 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Ardagh Metal Packaging by 34.5% in the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock worth $66,000 after buying an additional 5,009 shares in the last quarter. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AMBP shares. Citigroup raised their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upgraded Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $4.25 to $5.00 in a research report on Tuesday, October 15th. Finally, Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $4.90 to $4.00 in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.92.

Ardagh Metal Packaging Price Performance

AMBP stock opened at $3.03 on Friday. The company has a fifty day simple moving average of $3.66 and a two-hundred day simple moving average of $3.61. Ardagh Metal Packaging S.A. has a 52 week low of $2.98 and a 52 week high of $4.26. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 124.21. The firm has a market capitalization of $1.81 billion, a P/E ratio of -25.25, a price-to-earnings-growth ratio of 0.78 and a beta of 0.61.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 13.20%. The ex-dividend date was Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is -333.33%.

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.