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

Ardagh Metal Packaging S.A. (NYSE:AMBP) saw an uptick in trading volume on Monday . Approximately 1,850,850 shares changed hands during trading, an increase of 14% from the previous session’s volume of 1,627,962 shares.The stock last traded at $4.9050 and had previously closed at $4.78.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMBP shares. Citigroup reaffirmed a “buy” rating on shares of Ardagh Metal Packaging in a research note on Friday. Wells Fargo & Company boosted 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. Weiss Ratings upgraded shares of Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. UBS Group increased their price objective on shares of Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of Ardagh Metal Packaging from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.86.

Ardagh Metal Packaging Stock Performance

The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 81.10, a P/E/G ratio of 0.99 and a beta of 0.51. The firm has a 50-day simple moving average of $4.37 and a two-hundred day simple moving average of $4.32.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Ardagh Metal Packaging had a net margin of 0.68% and a negative return on equity of 27.93%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. As a group, equities analysts forecast that Ardagh Metal Packaging S.A. will post 0.26 EPS for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.40 dividend on an annualized basis and a yield of 8.2%. Ardagh Metal Packaging’s dividend payout ratio is 666.67%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV boosted its holdings in Ardagh Metal Packaging by 15.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,703 shares of the company’s stock valued at $68,000 after purchasing an additional 2,231 shares during the period. Cerity Partners LLC raised its position in Ardagh Metal Packaging by 9.1% in the 4th quarter. Cerity Partners LLC now owns 36,465 shares of the company’s stock valued at $150,000 after purchasing an additional 3,040 shares in the last quarter. Captrust Financial Advisors raised its position in Ardagh Metal Packaging by 27.9% in the 4th quarter. Captrust Financial Advisors now owns 15,439 shares of the company’s stock valued at $63,000 after purchasing an additional 3,369 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Ardagh Metal Packaging by 9.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 56,828 shares of the company’s stock valued at $236,000 after buying an additional 4,741 shares during the period. Finally, HB Wealth Management LLC boosted its stake in shares of Ardagh Metal Packaging by 22.3% in the 1st quarter. HB Wealth Management LLC now owns 26,272 shares of the company’s stock valued at $106,000 after buying an additional 4,787 shares during the period. Institutional investors and hedge funds own 16.93% of the company’s stock.

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.