Principal Financial Group Inc. Has $51,000 Stake in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Principal Financial Group Inc. lowered its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 30.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,529 shares of the company’s stock after selling 5,992 shares during the quarter. Principal Financial Group Inc.’s holdings in Ardagh Metal Packaging were worth $51,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMBP. Ballentine Partners LLC acquired a new stake in shares of Ardagh Metal Packaging in the third quarter valued at approximately $42,000. Quarry LP bought a new stake in Ardagh Metal Packaging in the 2nd quarter valued at $45,000. nVerses Capital LLC lifted 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 purchasing an additional 5,000 shares during the last quarter. Signaturefd LLC boosted its position in Ardagh Metal Packaging by 23.1% during the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after purchasing an additional 3,515 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in Ardagh Metal Packaging during the second quarter worth $113,000. 16.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMBP has been the subject of a number of research reports. Citigroup cut their target price on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company cut their price objective on shares of Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating for the company in a research report on Monday. Finally, Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $4.90 to $4.00 in a research report on Wednesday, December 11th. Two research 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’s stock. According to MarketBeat, Ardagh Metal Packaging currently has an average rating of “Hold” and a consensus price target of $3.65.

Ardagh Metal Packaging Price Performance

Ardagh Metal Packaging stock opened at $2.76 on Wednesday. The stock’s fifty day moving average price is $3.41 and its two-hundred day moving average price is $3.54. The firm has a market cap of $1.65 billion, a PE ratio of -23.00, a price-to-earnings-growth ratio of 0.79 and a beta of 0.65. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. Ardagh Metal Packaging S.A. has a one year low of $2.75 and a one year high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last posted 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. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. As a group, research analysts expect that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 14.49%. Ardagh Metal Packaging’s dividend payout ratio 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.