Ardagh Metal Packaging S.A. (NYSE:AMBP) Shares Purchased by King Street Capital Management L.P.

King Street Capital Management L.P. grew its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 155.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,550,000 shares of the company’s stock after purchasing an additional 1,550,000 shares during the quarter. Ardagh Metal Packaging comprises approximately 1.2% of King Street Capital Management L.P.’s holdings, making the stock its 9th largest holding. King Street Capital Management L.P. owned 0.43% of Ardagh Metal Packaging worth $7,676,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $3.35 price objective (down previously from $3.60) on shares of Ardagh Metal Packaging in a report on Thursday, January 16th. Morgan Stanley raised shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $3.60 to $3.10 in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Ardagh Metal Packaging has an average rating of “Hold” and a consensus target price of $3.44.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock opened at $3.74 on Friday. The firm has a market cap of $2.24 billion, a PE ratio of -31.16, a P/E/G ratio of 0.54 and a beta of 0.51. The business’s 50 day simple moving average is $3.02 and its 200 day simple moving average is $3.10. Ardagh Metal Packaging S.A. has a 52-week low of $2.50 and a 52-week high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, April 24th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the company posted $0.01 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $0.40 annualized dividend and a yield of 10.70%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -1,000.00%.

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.