Rhumbline Advisers Purchases 10,023 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Rhumbline Advisers increased its holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,504 shares of the company’s stock after buying an additional 10,023 shares during the period. Rhumbline Advisers’ holdings in Ardagh Metal Packaging were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMBP. Creative Planning raised its position in shares of Ardagh Metal Packaging by 170.1% in the third quarter. Creative Planning now owns 38,766 shares of the company’s stock valued at $146,000 after buying an additional 24,414 shares in the last quarter. US Bancorp DE raised its position in shares of Ardagh Metal Packaging by 17.8% in the third quarter. US Bancorp DE now owns 39,978 shares of the company’s stock valued at $151,000 after buying an additional 6,031 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Ardagh Metal Packaging by 0.5% in the third quarter. Janney Montgomery Scott LLC now owns 641,868 shares of the company’s stock valued at $2,420,000 after buying an additional 3,290 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Ardagh Metal Packaging in the third quarter valued at approximately $333,000. Finally, Victory Capital Management Inc. raised its position in shares of Ardagh Metal Packaging by 71.4% in the third quarter. Victory Capital Management Inc. now owns 62,888 shares of the company’s stock valued at $237,000 after buying an additional 26,198 shares in the last quarter. 16.93% of the stock is currently owned by institutional investors and hedge funds.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock opened at $2.88 on Friday. The stock has a market capitalization of $1.72 billion, a PE ratio of -23.96, a price-to-earnings-growth ratio of 0.54 and a beta of 0.63. Ardagh Metal Packaging S.A. has a 52-week low of $2.50 and a 52-week high of $4.26. The company has a 50-day simple moving average of $2.78 and a two-hundred day simple moving average of $3.32.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. As a group, equities research analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.40 annualized dividend and a dividend yield of 13.91%. Ardagh Metal Packaging’s payout ratio is -800.00%.

Wall Street Analyst Weigh In

AMBP has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $3.35 price objective (down previously from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. UBS Group cut their price objective on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America cut shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $4.90 to $4.00 in a research note on Wednesday, December 11th. Finally, Morgan Stanley upgraded shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $3.60 to $3.10 in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.44.

Ardagh Metal Packaging 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.