Massachusetts Financial Services Co. MA Trims Stake in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Massachusetts Financial Services Co. MA lessened its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 27.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,554,950 shares of the company’s stock after selling 1,685,029 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.76% of Ardagh Metal Packaging worth $15,487,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Grizzlyrock Capital LLC purchased a new stake in Ardagh Metal Packaging during the 4th quarter worth about $9,360,000. Brightline Capital Management LLC acquired a new stake in shares of Ardagh Metal Packaging during the 4th quarter worth about $8,582,000. Sona Asset Management US LLC purchased a new stake in shares of Ardagh Metal Packaging during the first quarter worth about $4,288,000. Angeles Wealth Management LLC acquired a new position in shares of Ardagh Metal Packaging in the fourth quarter valued at approximately $1,863,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Ardagh Metal Packaging by 58.9% during the second quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock valued at $1,677,000 after buying an additional 182,906 shares during the period. Hedge funds and other institutional investors own 16.93% of the company’s stock.

Ardagh Metal Packaging Price Performance

Shares of Ardagh Metal Packaging stock opened at $3.63 on Friday. The business’s fifty day moving average price is $3.53 and its 200 day moving average price is $3.61. Ardagh Metal Packaging S.A. has a twelve month low of $2.57 and a twelve month high of $4.17. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 124.21. The stock has a market capitalization of $2.17 billion, a P/E ratio of -25.89, a PEG ratio of 0.75 and a beta of 0.61.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Ardagh Metal Packaging had a positive return on equity of 114.77% and a negative net margin of 1.02%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business earned $0.04 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 11.03%. The ex-dividend date is Thursday, September 12th. Ardagh Metal Packaging’s dividend payout ratio is presently -285.71%.

Wall Street Analyst Weigh In

Several research firms have commented on AMBP. UBS Group cut shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $3.75 in a research note on Wednesday, July 17th. Citigroup dropped their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Wells Fargo & Company raised their price target on Ardagh Metal Packaging from $3.95 to $4.25 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.67.

Ardagh Metal Packaging Company Profile

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.