Ballentine Partners LLC Buys New Stake in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Ballentine Partners LLC purchased a new stake in Ardagh Metal Packaging S.A. (NYSE:AMBP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,180 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMBP. King Street Capital Management L.P. purchased a new stake in shares of Ardagh Metal Packaging in the second quarter worth about $14,790,000. Vanguard Group Inc. lifted its holdings in Ardagh Metal Packaging by 11.1% in the first quarter. Vanguard Group Inc. now owns 1,065,659 shares of the company’s stock valued at $3,655,000 after acquiring an additional 106,206 shares during the period. Renaissance Technologies LLC boosted its position in Ardagh Metal Packaging by 48.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock worth $4,505,000 after purchasing an additional 433,700 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Ardagh Metal Packaging by 422.4% during the 2nd quarter. AQR Capital Management LLC now owns 319,165 shares of the company’s stock worth $1,085,000 after purchasing an additional 258,067 shares during the period. Finally, Gabelli Funds LLC increased its holdings in shares of Ardagh Metal Packaging by 12.0% during the 1st quarter. Gabelli Funds LLC now owns 112,000 shares of the company’s stock valued at $384,000 after purchasing an additional 12,000 shares in the last quarter. 16.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Bank of America raised shares of Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and increased their price target for the stock from $3.80 to $5.10 in a report on Thursday, October 17th. Citigroup increased their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. UBS Group cut Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and dropped their target price for the company from $5.00 to $3.75 in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company raised Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $4.25 to $5.00 in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.08.

Ardagh Metal Packaging Trading Down 0.8 %

Shares of Ardagh Metal Packaging stock opened at $3.71 on Thursday. 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 twelve month low of $3.16 and a twelve month high of $4.26. The firm has a market capitalization of $2.22 billion, a PE ratio of -30.92, a P/E/G ratio of 0.88 and a beta of 0.62. The firm’s 50-day moving average price is $3.72 and its 200 day moving average price is $3.69.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 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 $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts predict that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.78%. The ex-dividend date is Thursday, December 5th. Ardagh Metal Packaging’s payout ratio is -333.33%.

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.