Ardagh Metal Packaging (NYSE:AMBP) Trading Up 6.7% After Dividend Announcement

Ardagh Metal Packaging S.A. (NYSE:AMBP) was up 6.7% during trading on Thursday after the company announced a dividend. The stock traded as high as $4.04 and last traded at $3.98. Approximately 918,827 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 1,193,984 shares. The stock had previously closed at $3.73.

The newly announced dividend which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 9.88%. The ex-dividend date is Wednesday, June 12th. Ardagh Metal Packaging’s payout ratio is -285.69%.

Wall Street Analysts Forecast Growth

AMBP has been the topic of several analyst reports. Morgan Stanley initiated coverage on shares of Ardagh Metal Packaging in a report on Monday, March 18th. They issued an “underweight” rating and a $3.20 target price on the stock. Bank of America cut shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $4.10 to $3.50 in a report on Monday, April 1st. Barclays cut shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. in a report on Monday, January 8th. UBS Group started coverage on shares of Ardagh Metal Packaging in a report on Tuesday, January 16th. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.31.

Ardagh Metal Packaging Stock Performance

The business’s 50-day moving average price is $3.48 and its 200-day moving average price is $3.56. 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, April 25th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 43.89%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.01 EPS. Ardagh Metal Packaging’s quarterly revenue was up .9% on a year-over-year basis. Analysts anticipate that Ardagh Metal Packaging S.A. will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Ardagh Metal Packaging

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wedmont Private Capital purchased a new position in Ardagh Metal Packaging in the 4th quarter valued at $39,000. Fidelis Capital Partners LLC purchased a new stake in shares of Ardagh Metal Packaging during the 4th quarter worth $46,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Ardagh Metal Packaging during the 4th quarter worth $47,000. Greenwich Wealth Management LLC boosted its position in shares of Ardagh Metal Packaging by 29.7% during the 3rd quarter. Greenwich Wealth Management LLC now owns 14,780 shares of the company’s stock worth $46,000 after purchasing an additional 3,388 shares in the last quarter. Finally, Balentine LLC purchased a new stake in shares of Ardagh Metal Packaging during the 4th quarter worth $64,000. 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.