King Street Capital Management L.P. Has $7.68 Million Stake in Ardagh Metal Packaging S.A. (NYSE:AMBP)

King Street Capital Management L.P. increased its position in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 155.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,550,000 shares of the company’s stock after buying an additional 1,550,000 shares during the quarter. Ardagh Metal Packaging makes up approximately 1.2% of King Street Capital Management L.P.’s portfolio, making the stock its 9th largest holding. King Street Capital Management L.P.’s holdings in Ardagh Metal Packaging were worth $7,676,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC bought a new stake in Ardagh Metal Packaging in the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC raised its stake in Ardagh Metal Packaging by 292.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the company’s stock valued at $33,000 after acquiring an additional 8,180 shares during the period. Xponance Inc. bought a new position in Ardagh Metal Packaging during the fourth quarter worth $41,000. Cibc World Markets Corp bought a new position in Ardagh Metal Packaging during the fourth quarter worth $41,000. Finally, Aigen Investment Management LP bought a new position in shares of Ardagh Metal Packaging in the fourth quarter valued at about $42,000. 16.93% of the stock is currently owned by institutional investors and hedge funds.

Ardagh Metal Packaging Trading Up 3.3 %

Shares of AMBP stock opened at $3.74 on Friday. The stock has a market cap of $2.24 billion, a P/E ratio of -31.16, a price-to-earnings-growth ratio of 0.54 and a beta of 0.51. Ardagh Metal Packaging S.A. has a 1 year low of $2.50 and a 1 year high of $4.26. The stock has a 50 day simple moving average of $3.02 and a 200 day simple moving average of $3.10.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, April 24th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 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 firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $0.01 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.70%. The ex-dividend date of this dividend is Monday, May 5th. Ardagh Metal Packaging’s dividend payout ratio is presently -1,000.00%.

Analyst Upgrades and Downgrades

AMBP has been the topic of a number of research reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $3.35 price target (down previously from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. Morgan Stanley raised Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $3.60 to $3.10 in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Ardagh Metal Packaging has a consensus rating of “Hold” and a consensus target price of $3.44.

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.