Solas Capital Management LLC Has $9.10 Million Holdings in Ardagh Metal Packaging S.A. $AMBP

Key Points

• Solas Capital Management LLC reduced its stake in Ardagh Metal Packaging by 10.3% during the first quarter, now holding approximately 3,013,910 shares.
• Several institutional investors increased their holdings in Ardagh Metal Packaging, led by Ieq Capital LLC with a 160.7% increase.
• Analysts have varied opinions on the stock, with a consensus rating of "Hold" and a target price averaging $4.32.

Solas Capital Management LLC lowered its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,013,910 shares of the company's stock after selling 347,468 shares during the quarter. Ardagh Metal Packaging accounts for 5.1% of Solas Capital Management LLC's investment portfolio, making the stock its 9th biggest position. Solas Capital Management LLC owned 0.50% of Ardagh Metal Packaging worth $9,102,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vident Advisory LLC raised its position in Ardagh Metal Packaging by 31.4% during the first quarter. Vident Advisory LLC now owns 44,247 shares of the company's stock valued at $134,000 after purchasing an additional 10,563 shares in the last quarter. State of Wyoming boosted its holdings in shares of Ardagh Metal Packaging by 33.9% in the 1st quarter. State of Wyoming now owns 39,446 shares of the company's stock worth $119,000 after purchasing an additional 9,977 shares in the last quarter. Contrarian Capital Management L.L.C. boosted its holdings in shares of Ardagh Metal Packaging by 17.2% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 150,000 shares of the company's stock worth $453,000 after purchasing an additional 22,000 shares in the last quarter. Ieq Capital LLC boosted its holdings in shares of Ardagh Metal Packaging by 160.7% in the 1st quarter. Ieq Capital LLC now owns 101,733 shares of the company's stock worth $307,000 after purchasing an additional 62,705 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Ardagh Metal Packaging by 5.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,384,608 shares of the company's stock worth $4,182,000 after purchasing an additional 70,175 shares in the last quarter. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMBP. Wells Fargo & Company cut their price objective on Ardagh Metal Packaging from $5.00 to $4.50 and set an "equal weight" rating for the company in a report on Monday, July 28th. Citigroup upped their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. UBS Group cut their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Finally, Morgan Stanley upped their price objective on Ardagh Metal Packaging from $3.50 to $4.10 and gave the stock an "equal weight" rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.32.

Ardagh Metal Packaging Stock Performance

AMBP stock traded up $0.05 during trading on Thursday, hitting $3.56. 578,107 shares of the company traded hands, compared to its average volume of 1,763,580. The firm has a market capitalization of $2.12 billion, a PE ratio of -118.50, a P/E/G ratio of 1.31 and a beta of 0.55. Ardagh Metal Packaging S.A. has a 1 year low of $2.50 and a 1 year high of $4.78. The company has a 50-day moving average of $4.10 and a 200-day moving average of $3.60.

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 for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.33 billion. Ardagh Metal Packaging had a negative return on equity of 76.86% and a net margin of 0.13%.Ardagh Metal Packaging's quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 EPS. Sell-side analysts expect that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Thursday, August 7th were given 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 11.3%. Ardagh Metal Packaging's dividend 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.