Ardagh Metal Packaging S.A. $AMBP Shares Sold by Monarch Alternative Capital LP

Key Points

• Monarch Alternative Capital reduced its Ardagh Metal Packaging stake by 44.8% in the first quarter, selling 2.39 million shares and retaining approximately 2.96 million shares worth $12.0 million. Institutional investors collectively own 16.93% of AMBP.
• Analyst sentiment remains mostly neutral: the stock has one Buy rating and five Holds, with a consensus target price of $4.86. Wells Fargo and UBS raised their targets to $5.00, while Citigroup maintained its Buy rating.
• Ardagh reported quarterly EPS of $0.11, ahead of the $0.09 estimate, while revenue rose 17.7% year over year to $1.71 billion. The company declared a quarterly dividend of $0.10 per share, representing an annualized yield of approximately 8.3%.

Monarch Alternative Capital LP decreased its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 44.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,955,738 shares of the company's stock after selling 2,394,262 shares during the period. Ardagh Metal Packaging accounts for approximately 0.7% of Monarch Alternative Capital LP's holdings, making the stock its 6th largest position. Monarch Alternative Capital LP owned approximately 0.49% of Ardagh Metal Packaging worth $11,971,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AMBP. Kestra Advisory Services LLC bought a new stake in Ardagh Metal Packaging during the fourth quarter worth about $33,000. Pallas Capital Advisors LLC bought a new position in Ardagh Metal Packaging in the fourth quarter valued at approximately $42,000. Abel Hall LLC acquired a new position in shares of Ardagh Metal Packaging during the 1st quarter worth approximately $42,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ardagh Metal Packaging during the 1st quarter worth approximately $43,000. Finally, Nations Financial Group Inc. IA ADV bought a new stake in shares of Ardagh Metal Packaging during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 16.93% of the company's stock.

Analyst Upgrades and Downgrades

AMBP has been the subject of several recent analyst reports. Weiss Ratings raised Ardagh Metal Packaging from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 15th. Wall Street Zen raised shares of Ardagh Metal Packaging from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group upped their price target on shares of Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Citigroup reiterated a "buy" rating on shares of Ardagh Metal Packaging in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $4.86.

Ardagh Metal Packaging Stock Up 1.2%

NYSE:AMBP opened at $4.84 on Tuesday. Ardagh Metal Packaging S.A. has a 12-month low of $3.29 and a 12-month high of $5.43. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 80.63, a P/E/G ratio of 0.99 and a beta of 0.51. The stock's 50 day moving average price is $4.38 and its two-hundred day moving average price is $4.33.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.57 billion. Ardagh Metal Packaging had a negative return on equity of 27.93% and a net margin of 0.68%.The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. Equities research analysts expect that Ardagh Metal Packaging S.A. will post 0.26 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.40 annualized dividend and a yield of 8.3%. Ardagh Metal Packaging's dividend payout ratio (DPR) is currently 666.67%.

Ardagh Metal Packaging Profile

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.

Want to see what other hedge funds are holding AMBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.