Victory Capital Management Inc. Buys 26,198 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Victory Capital Management Inc. boosted its holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 71.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,888 shares of the company’s stock after buying an additional 26,198 shares during the quarter. Victory Capital Management Inc.’s holdings in Ardagh Metal Packaging were worth $237,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. King Street Capital Management L.P. acquired a new stake in shares of Ardagh Metal Packaging during the second quarter valued at about $14,790,000. Squarepoint Ops LLC boosted its stake in shares of Ardagh Metal Packaging by 523.8% during the second quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock valued at $10,568,000 after purchasing an additional 2,446,997 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Ardagh Metal Packaging by 48.7% during the second quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock valued at $4,505,000 after purchasing an additional 433,700 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Ardagh Metal Packaging by 422.4% during the second quarter. AQR Capital Management LLC now owns 319,165 shares of the company’s stock valued at $1,085,000 after purchasing an additional 258,067 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Ardagh Metal Packaging by 58.9% during the second quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock worth $1,677,000 after acquiring an additional 182,906 shares during the last quarter. 16.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Ardagh Metal Packaging Stock Performance

NYSE:AMBP opened at $3.68 on Friday. The stock has a market cap of $2.20 billion, a P/E ratio of -30.66, a PEG ratio of 0.91 and a beta of 0.62. 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 S.A. has a twelve month low of $3.16 and a twelve month high of $4.26. The business’s 50-day moving average price is $3.77 and its two-hundred day moving average price is $3.67.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $0.06 EPS. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 10.87%. Ardagh Metal Packaging’s dividend payout ratio is presently -333.31%.

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.