MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Ardagh Metal Packaging S.A. $AMBP

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. significantly increased its stake in Ardagh Metal Packaging S.A. by 172.5%, acquiring over 5.9 million additional shares.
• Ardagh Metal Packaging reported earnings of $0.08 EPS, surpassing analysts' expectations, with a revenue of $1.46 billion for the quarter, a 15.6% increase year-over-year.
• The company recently declared a quarterly dividend of $0.10 per share, resulting in a yield of 11.2% for investors.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 172.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,324,218 shares of the company's stock after buying an additional 5,902,246 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.56% of Ardagh Metal Packaging worth $28,159,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Ardagh Metal Packaging by 2.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 137,503 shares of the company's stock worth $415,000 after purchasing an additional 3,320 shares during the period. EP Wealth Advisors LLC raised its stake in Ardagh Metal Packaging by 9.5% during the fourth quarter. EP Wealth Advisors LLC now owns 54,647 shares of the company's stock valued at $164,000 after purchasing an additional 4,731 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Ardagh Metal Packaging by 140.6% in the first quarter. SBI Securities Co. Ltd. now owns 9,173 shares of the company's stock valued at $28,000 after acquiring an additional 5,361 shares during the period. Dakota Wealth Management boosted its stake in shares of Ardagh Metal Packaging by 4.0% during the 1st quarter. Dakota Wealth Management now owns 152,579 shares of the company's stock worth $461,000 after purchasing an additional 5,897 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of 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 purchasing an additional 8,180 shares during the period. 16.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMBP shares. Wells Fargo & Company reduced their price target on shares of Ardagh Metal Packaging from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Monday, July 28th. Citigroup boosted their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Morgan Stanley raised their price target on shares of Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Finally, UBS Group lowered their target price on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ardagh Metal Packaging presently has an average rating of "Hold" and an average target price of $4.32.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock traded up $0.11 during trading on Thursday, hitting $3.62. 589,606 shares of the company's stock were exchanged, compared to its average volume of 1,737,142. The business has a 50-day simple moving average of $4.02 and a 200-day simple moving average of $3.62. Ardagh Metal Packaging S.A. has a 52-week low of $2.50 and a 52-week high of $4.78. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -120.50, a PEG ratio of 1.25 and a beta of 0.55.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a net margin of 0.13% and a negative return on equity of 76.86%. The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter last year, the company posted $0.06 earnings per share. The firm's revenue was up 15.6% compared to the same quarter last year. On average, equities analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Thursday, August 7th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $0.40 dividend on an annualized basis and a yield of 11.1%. Ardagh Metal Packaging's dividend payout ratio is -1,333.33%.

Ardagh Metal Packaging 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.