Ardagh Metal Packaging (NYSE:AMBP) Sees Strong Trading Volume – Here’s Why

Ardagh Metal Packaging S.A. (NYSE:AMBP) shares saw unusually-strong trading volume on Friday . Approximately 1,083,455 shares traded hands during mid-day trading, an increase of 23% from the previous session’s volume of 877,439 shares.The stock last traded at $4.3650 and had previously closed at $4.39.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMBP shares. UBS Group lifted their target price on Ardagh Metal Packaging from $4.00 to $4.25 and gave the company a “neutral” rating in a research report on Monday. Wells Fargo & Company decreased their target price on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 15th. Truist Financial boosted their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Tuesday, January 6th. Raymond James Financial initiated coverage on Ardagh Metal Packaging in a report on Wednesday, October 15th. They issued a “market perform” rating for the company. Finally, Morgan Stanley set a $4.30 price target on Ardagh Metal Packaging in a research note on Thursday, January 8th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Ardagh Metal Packaging currently has an average rating of “Hold” and an average target price of $4.51.

Ardagh Metal Packaging Price Performance

The stock has a market capitalization of $2.60 billion, a P/E ratio of -434.50, a P/E/G ratio of 0.99 and a beta of 0.55. The firm has a 50-day simple moving average of $3.96 and a 200 day simple moving average of $3.92.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.39 billion. Ardagh Metal Packaging had a negative return on equity of 58.16% and a net margin of 0.30%.The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 earnings per share. Sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Monday, November 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 9.2%. Ardagh Metal Packaging’s payout ratio is -4,000.00%.

Institutional Trading of Ardagh Metal Packaging

Several institutional investors and hedge funds have recently made changes to their positions in AMBP. Pallas Capital Advisors LLC purchased a new stake in Ardagh Metal Packaging during the second quarter valued at about $43,000. Signaturefd LLC grew its holdings in shares of Ardagh Metal Packaging by 237.4% in the second quarter. Signaturefd LLC now owns 11,382 shares of the company’s stock worth $49,000 after purchasing an additional 8,009 shares during the last quarter. CWM LLC increased its position in shares of Ardagh Metal Packaging by 9.6% in the second quarter. CWM LLC now owns 40,104 shares of the company’s stock valued at $172,000 after acquiring an additional 3,523 shares during the period. Russell Investments Group Ltd. raised its position in Ardagh Metal Packaging by 538.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 645,792 shares of the company’s stock valued at $2,764,000 after purchasing an additional 544,652 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in Ardagh Metal Packaging in the second quarter valued at $342,000. Hedge funds and other institutional investors own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.