Massachusetts Financial Services Co. MA Has $11.56 Million Holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Massachusetts Financial Services Co. MA lessened its position in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 32.7% in the third quarter, HoldingsChannel reports. The fund owned 3,066,277 shares of the company’s stock after selling 1,488,673 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Ardagh Metal Packaging were worth $11,560,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 106,206 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Ardagh Metal Packaging in the first quarter valued at approximately $91,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ardagh Metal Packaging by 17.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,881 shares of the company’s stock valued at $113,000 after purchasing an additional 4,922 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Ardagh Metal Packaging in the first quarter valued at approximately $265,000. Finally, Sona Asset Management US LLC bought a new position in shares of Ardagh Metal Packaging in the first quarter valued at approximately $4,288,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock opened at $3.70 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. The business’s fifty day simple moving average is $3.76 and its 200 day simple moving average is $3.68. Ardagh Metal Packaging S.A. has a 12 month low of $3.16 and a 12 month high of $4.26. The firm has a market capitalization of $2.21 billion, a P/E ratio of -30.83, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 10.81%. The ex-dividend date is Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio is currently -333.31%.

Wall Street Analysts Forecast Growth

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

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.