King Street Capital Management L.P. Makes New Investment in Ardagh Metal Packaging S.A. (NYSE:AMBP)

King Street Capital Management L.P. acquired a new position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 4,350,000 shares of the company’s stock, valued at approximately $14,790,000. Ardagh Metal Packaging makes up 0.7% of King Street Capital Management L.P.’s holdings, making the stock its 4th largest position.

Several other large investors also recently bought and sold shares of the company. Grizzlyrock Capital LLC purchased a new stake in shares of Ardagh Metal Packaging in the fourth quarter valued at approximately $9,360,000. Brightline Capital Management LLC purchased a new position in Ardagh Metal Packaging in the fourth quarter worth approximately $8,582,000. Gilman Hill Asset Management LLC grew its position in Ardagh Metal Packaging by 1.3% in the second quarter. Gilman Hill Asset Management LLC now owns 1,805,704 shares of the company’s stock worth $6,139,000 after acquiring an additional 23,458 shares during the period. Keeley Teton Advisors LLC grew its position in Ardagh Metal Packaging by 0.5% in the first quarter. Keeley Teton Advisors LLC now owns 1,695,498 shares of the company’s stock worth $5,816,000 after acquiring an additional 8,433 shares during the period. Finally, Renaissance Technologies LLC grew its position in Ardagh Metal Packaging by 48.7% in the second quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock worth $4,505,000 after acquiring an additional 433,700 shares during the period. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMBP has been the subject of several analyst reports. Citigroup lowered their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Wells Fargo & Company upped 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. Finally, UBS Group cut Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $5.00 to $3.75 in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Ardagh Metal Packaging currently has a consensus rating of “Hold” and an average price target of $3.67.

Ardagh Metal Packaging Stock Down 1.9 %

Shares of NYSE AMBP opened at $3.62 on Monday. The stock has a market cap of $2.16 billion, a P/E ratio of -25.86, a PEG ratio of 0.75 and a beta of 0.61. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 124.21. Ardagh Metal Packaging S.A. has a 12-month low of $2.57 and a 12-month high of $4.17. The business’s fifty day simple moving average is $3.53 and its 200-day simple moving average is $3.62.

Ardagh Metal Packaging (NYSE:AMBP) last posted its earnings results on Thursday, July 25th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.32 billion. Ardagh Metal Packaging had a positive return on equity of 114.77% and a negative net margin of 1.02%. Ardagh Metal Packaging’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 earnings per share. As a group, equities analysts predict that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 11.05%. The ex-dividend date of this dividend is Thursday, September 12th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -285.71%.

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.