EP Wealth Advisors LLC Purchases 24,832 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

EP Wealth Advisors LLC boosted its holdings in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 99.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,916 shares of the company’s stock after acquiring an additional 24,832 shares during the period. EP Wealth Advisors LLC’s holdings in Ardagh Metal Packaging were worth $188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMBP. Citigroup Inc. raised its position in shares of Ardagh Metal Packaging by 15,834.1% during the third quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock worth $19,245,000 after purchasing an additional 5,072,769 shares during the period. King Street Capital Management L.P. acquired a new stake in Ardagh Metal Packaging during the 2nd quarter worth approximately $14,790,000. Squarepoint Ops LLC lifted its stake in Ardagh Metal Packaging by 523.8% in the second quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock valued at $10,568,000 after buying an additional 2,446,997 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Ardagh Metal Packaging by 37.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company’s stock valued at $6,704,000 after buying an additional 489,146 shares during the period. Finally, Renaissance Technologies LLC increased its position 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 worth $4,505,000 after acquiring an additional 433,700 shares in the last quarter. 16.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMBP has been the topic of several research reports. Citigroup boosted their price objective on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $4.90 to $4.00 in a research report on Wednesday. Finally, Wells Fargo & Company raised Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $4.25 to $5.00 in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Ardagh Metal Packaging has a consensus rating of “Hold” and an average target price of $3.92.

Ardagh Metal Packaging Price Performance

NYSE:AMBP opened at $3.21 on Friday. Ardagh Metal Packaging S.A. has a 52-week low of $3.15 and a 52-week high of $4.26. The company has a market cap of $1.92 billion, a P/E ratio of -26.75, a P/E/G ratio of 0.78 and a beta of 0.61. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17. The stock’s 50-day simple moving average is $3.71 and its 200 day simple moving average is $3.63.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm 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%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, sell-side analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 12.46%. The ex-dividend date is Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is currently -333.33%.

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.