Ardagh Metal Packaging S.A. (NYSE:AMBP) Position Lowered by State Street Corp

State Street Corp reduced its holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 1.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,425,127 shares of the company’s stock after selling 41,956 shares during the quarter. State Street Corp owned approximately 0.41% of Ardagh Metal Packaging worth $9,143,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AMBP. Janney Montgomery Scott LLC boosted its stake in Ardagh Metal Packaging by 0.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 641,868 shares of the company’s stock valued at $2,420,000 after purchasing an additional 3,290 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Ardagh Metal Packaging by 23.1% in 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 period. nVerses Capital LLC lifted its holdings in shares of Ardagh Metal Packaging by 70.4% in the third 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 during the period. Principal Financial Group Inc. raised its position in 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 acquiring an additional 5,009 shares in the last quarter. Finally, US Bancorp DE raised its position in Ardagh Metal Packaging by 17.8% in the third quarter. US Bancorp DE now owns 39,978 shares of the company’s stock worth $151,000 after acquiring an additional 6,031 shares in the last quarter. 16.93% of the stock is owned by institutional investors.

Ardagh Metal Packaging Trading Down 1.3 %

Ardagh Metal Packaging stock opened at $2.98 on Friday. Ardagh Metal Packaging S.A. has a 12 month low of $2.96 and a 12 month high of $4.26. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -24.83, a price-to-earnings-growth ratio of 0.78 and a beta of 0.61. The business has a 50 day moving average price of $3.57 and a two-hundred day moving average price of $3.58. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 124.21.

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

Ardagh Metal Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 13.42%. Ardagh Metal Packaging’s payout ratio is currently -333.33%.

Analysts Set New Price Targets

AMBP has been the topic of a number of research reports. Citigroup boosted their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upgraded Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and increased 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 decreased 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 assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.92.

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.