Arrowstreet Capital Limited Partnership Grows Stake in Ardagh Metal Packaging S.A. $AMBP

Arrowstreet Capital Limited Partnership increased its position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 28.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,269,861 shares of the company’s stock after buying an additional 722,974 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.55% of Ardagh Metal Packaging worth $13,243,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV raised its stake in shares of Ardagh Metal Packaging by 15.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,703 shares of the company’s stock worth $68,000 after acquiring an additional 2,231 shares in the last quarter. Cerity Partners LLC grew its holdings in Ardagh Metal Packaging by 9.1% in the fourth quarter. Cerity Partners LLC now owns 36,465 shares of the company’s stock worth $150,000 after purchasing an additional 3,040 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Ardagh Metal Packaging by 27.9% during the fourth quarter. Captrust Financial Advisors now owns 15,439 shares of the company’s stock worth $63,000 after purchasing an additional 3,369 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Ardagh Metal Packaging by 9.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 56,828 shares of the company’s stock worth $236,000 after purchasing an additional 4,741 shares in the last quarter. Finally, HB Wealth Management LLC lifted its holdings in shares of Ardagh Metal Packaging by 22.3% during the 1st quarter. HB Wealth Management LLC now owns 26,272 shares of the company’s stock valued at $106,000 after purchasing an additional 4,787 shares during the last quarter. 16.93% of the stock is owned by hedge funds and other institutional investors.

Ardagh Metal Packaging Stock Down 2.4%

Shares of Ardagh Metal Packaging stock opened at $4.73 on Friday. The firm has a market cap of $2.83 billion, a PE ratio of 78.90, a P/E/G ratio of 0.94 and a beta of 0.51. The business has a 50-day moving average price of $4.46 and a 200 day moving average price of $4.35. Ardagh Metal Packaging S.A. has a twelve month low of $3.29 and a twelve month high of $5.43.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, July 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, sell-side analysts expect that Ardagh Metal Packaging S.A. will post 0.28 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 8.5%. The ex-dividend date of this dividend is Thursday, September 10th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is currently 666.67%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen raised Ardagh Metal Packaging from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Citigroup reaffirmed a “buy” rating on shares of Ardagh Metal Packaging in a research report on Friday, July 24th. Wells Fargo & Company boosted their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ardagh Metal Packaging in a report on Friday, July 24th. Finally, UBS Group lifted 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 note on Friday, July 24th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.86.

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.