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

Ardagh Metal Packaging S.A. (NYSE:AMBP) saw strong trading volume on Tuesday . 3,435,261 shares were traded during 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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMBP shares. UBS Group started coverage on Ardagh Metal Packaging in a research report on Tuesday, January 16th. They issued a “buy” rating and a $5.00 price target on the stock. Morgan Stanley started coverage on Ardagh Metal Packaging in a research report on Monday, March 18th. They issued an “underweight” rating and a $3.20 price target on the stock. Truist Financial reissued a “hold” rating and issued a $3.00 price target (down from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. Wells Fargo & Company upped their price objective on Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Finally, Barclays cut Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.31.

Ardagh Metal Packaging Stock Down 2.9 %

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

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results 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). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Sell-side analysts expect that Ardagh Metal Packaging S.A. will post 0.18 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

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

Institutional Investors Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently modified their holdings of AMBP. MetLife Investment Management LLC increased its stake in Ardagh Metal Packaging by 66.8% in the 2nd quarter. MetLife Investment Management LLC now owns 8,391 shares of the company’s stock worth $32,000 after buying an additional 3,359 shares in the last quarter. UBS Group AG increased its stake in Ardagh Metal Packaging by 43.1% in the 2nd quarter. UBS Group AG now owns 6,028 shares of the company’s stock worth $37,000 after buying an additional 1,815 shares in the last quarter. Wedmont Private Capital purchased a new stake in Ardagh Metal Packaging in the 4th quarter worth $39,000. JPMorgan Chase & Co. increased its stake in Ardagh Metal Packaging by 2,026.7% in the 4th quarter. JPMorgan Chase & Co. now owns 8,443 shares of the company’s stock worth $41,000 after buying an additional 8,046 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Ardagh Metal Packaging during the 1st quarter valued at about $43,000. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

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.