Ardagh Metal Packaging (NYSE:AMBP) Sees Strong Trading Volume

Ardagh Metal Packaging S.A. (NYSE:AMBP) shares saw strong trading volume on Tuesday . 3,435,261 shares changed hands during mid-day trading, an increase of 196% from the previous session’s volume of 1,160,863 shares.The stock last traded at $3.38 and had previously closed at $3.33.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Bank of America lowered shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $4.10 to $3.50 in a research report on Monday, April 1st. Barclays lowered shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 target price for the company. in a research report on Monday, January 8th. Morgan Stanley assumed coverage on shares of Ardagh Metal Packaging in a research report on Monday, March 18th. They set an “underweight” rating and a $3.20 price objective for the company. Finally, UBS Group assumed coverage on shares of Ardagh Metal Packaging in a research report on Tuesday, January 16th. They set a “buy” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Ardagh Metal Packaging has an average rating of “Hold” and an average price target of $4.31.

Ardagh Metal Packaging Stock Performance

The firm’s 50-day moving average is $3.48 and its two-hundred day moving average is $3.53. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 34.34.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. Ardagh Metal Packaging’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. Analysts predict that Ardagh Metal Packaging S.A. will post 0.18 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 11.90%. The ex-dividend date was Tuesday, March 12th. Ardagh Metal Packaging’s payout ratio is presently -333.33%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG raised its position in Ardagh Metal Packaging by 43.1% during the second quarter. UBS Group AG now owns 6,028 shares of the company’s stock valued at $37,000 after acquiring an additional 1,815 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in Ardagh Metal Packaging by 0.7% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 435,522 shares of the company’s stock valued at $1,363,000 after purchasing an additional 2,915 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Ardagh Metal Packaging by 66.8% during the second quarter. MetLife Investment Management LLC now owns 8,391 shares of the company’s stock valued at $32,000 after purchasing an additional 3,359 shares during the last quarter. Greenwich Wealth Management LLC grew its holdings in Ardagh Metal Packaging by 29.7% during the third quarter. Greenwich Wealth Management LLC now owns 14,780 shares of the company’s stock valued at $46,000 after purchasing an additional 3,388 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Ardagh Metal Packaging by 13.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,959 shares of the company’s stock valued at $108,000 after purchasing an additional 3,412 shares during the last quarter. Institutional investors own 16.93% of the company’s stock.

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.