Ardagh Metal Packaging (NYSE:AMBP) Sees Unusually-High Trading Volume

Ardagh Metal Packaging S.A. (NYSE:AMBP) shares saw unusually-strong trading volume on Thursday . Approximately 683,949 shares changed hands during trading, a decline of 37% from the previous session’s volume of 1,078,832 shares.The stock last traded at $3.46 and had previously closed at $3.39.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMBP shares. Barclays downgraded Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective for the company. in a research note on Monday, January 8th. UBS Group started coverage on Ardagh Metal Packaging in a report on Tuesday, January 16th. They issued a “buy” rating and a $5.00 price objective for the company. Morgan Stanley started coverage on shares of Ardagh Metal Packaging in a report on Monday, March 18th. They set an “underweight” rating and a $3.20 price objective on the stock. Truist Financial reaffirmed a “hold” rating and set a $3.00 price objective (down from $4.00) on shares of Ardagh Metal Packaging in a report on Monday, February 26th. Finally, Wells Fargo & Company reduced their price target on shares of Ardagh Metal Packaging from $4.00 to $3.70 and set an “equal weight” rating on the stock in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.36.

Ardagh Metal Packaging Price Performance

The firm has a fifty day moving average of $3.57 and a 200 day moving average of $3.51. The company has a market capitalization of $2.06 billion, a P/E ratio of -28.25, a P/E/G ratio of 0.67 and a beta of 0.73. 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 posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Ardagh Metal Packaging S.A. will post 0.18 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.40 dividend on an annualized basis and a yield of 11.59%. Ardagh Metal Packaging’s dividend payout ratio is presently -333.33%.

Institutional Trading of Ardagh Metal Packaging

Large investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in Ardagh Metal Packaging by 43.1% during the 2nd 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 during the period. MetLife Investment Management LLC increased its position in Ardagh Metal Packaging by 66.8% during the 2nd quarter. MetLife Investment Management LLC now owns 8,391 shares of the company’s stock valued at $32,000 after buying an additional 3,359 shares in the last quarter. JPMorgan Chase & Co. increased its position in Ardagh Metal Packaging by 2,026.7% during the 4th quarter. JPMorgan Chase & Co. now owns 8,443 shares of the company’s stock valued at $41,000 after buying an additional 8,046 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Ardagh Metal Packaging during the 3rd quarter valued at about $49,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Ardagh Metal Packaging during the 1st quarter valued at about $43,000. 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.