Ardagh Metal Packaging S.A. $AMBP Stock Holdings Cut by Principle Wealth Partners LLC

Principle Wealth Partners LLC reduced its position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 7.3% in the second quarter, HoldingsChannel.com reports. The firm owned 38,356 shares of the company’s stock after selling 3,000 shares during the period. Principle Wealth Partners LLC’s holdings in Ardagh Metal Packaging were worth $164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its stake in Ardagh Metal Packaging by 140.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,173 shares of the company’s stock valued at $28,000 after purchasing an additional 5,361 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Ardagh Metal Packaging during the 1st quarter valued at $33,000. Cerity Partners LLC bought a new position in Ardagh Metal Packaging during the 1st quarter valued at $43,000. Pallas Capital Advisors LLC bought a new position in Ardagh Metal Packaging during the 2nd quarter valued at $43,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ardagh Metal Packaging during the 1st quarter valued at $43,000. 16.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMBP shares. UBS Group increased their price objective on Ardagh Metal Packaging from $3.75 to $4.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Ardagh Metal Packaging in a research report on Friday. Raymond James Financial started coverage on Ardagh Metal Packaging in a research report on Wednesday, October 15th. They set a “market perform” rating for the company. Citigroup increased their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Finally, Wells Fargo & Company cut their price objective on 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. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.22.

Ardagh Metal Packaging Trading Down 5.6%

Shares of AMBP stock opened at $3.80 on Friday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -379.50, a P/E/G ratio of 1.44 and a beta of 0.56. Ardagh Metal Packaging S.A. has a 1-year low of $2.50 and a 1-year high of $4.78. The stock’s fifty day simple moving average is $3.74 and its 200-day simple moving average is $3.83.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm 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 65.14% and a net margin of 0.30%.Ardagh Metal Packaging’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. On average, sell-side analysts predict that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 10.5%. The ex-dividend date of this dividend is Monday, November 3rd. Ardagh Metal Packaging’s payout ratio is presently -1,333.33%.

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.