Ardagh Metal Packaging S.A. (NYSE:AMBP) Holdings Increased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Ardagh Metal Packaging S.A. by 34.3% in the first quarter, owning 400,935 shares worth approximately $1.2 million.
• Ardagh reported a $1.46 billion revenue for the quarter, surpassing analysts' estimates and showing a 15.6% year-over-year increase.
• The company announced a quarterly dividend of $0.10 per share, equating to an annual yield of 10.3%, with a payout ratio of -1,333.33%.

Federated Hermes Inc. boosted its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 34.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 400,935 shares of the company's stock after purchasing an additional 102,500 shares during the quarter. Federated Hermes Inc. owned about 0.07% of Ardagh Metal Packaging worth $1,211,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Ardagh Metal Packaging in the fourth quarter valued at $880,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ardagh Metal Packaging during the first quarter worth $51,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Ardagh Metal Packaging by 2.5% during 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. Gilman Hill Asset Management LLC raised its holdings in shares of Ardagh Metal Packaging by 10.3% during the first quarter. Gilman Hill Asset Management LLC now owns 1,967,087 shares of the company's stock worth $5,941,000 after purchasing an additional 184,305 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Ardagh Metal Packaging by 74.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,220 shares of the company's stock worth $118,000 after purchasing an additional 16,711 shares during the period. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AMBP. UBS Group dropped their target price on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. Citigroup increased their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Morgan Stanley increased their target price on shares of Ardagh Metal Packaging from $3.50 to $4.10 and gave the stock an "equal weight" rating in a report on Wednesday, June 25th. Finally, Wells Fargo & Company lowered their price target on shares of Ardagh Metal Packaging from $5.00 to $4.50 and set an "equal weight" rating for the company in a research report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Ardagh Metal Packaging presently has an average rating of "Hold" and an average price target of $4.32.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock traded down $0.02 during trading on Friday, hitting $3.78. 1,086,682 shares of the stock were exchanged, compared to its average volume of 1,882,991. The stock's fifty day moving average is $4.23 and its 200 day moving average is $3.47. The stock has a market cap of $2.26 billion, a PE ratio of -126.00, a P/E/G ratio of 1.34 and a beta of 0.55. Ardagh Metal Packaging S.A. has a 12 month low of $2.50 and a 12 month high of $4.78.

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

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Thursday, August 7th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date is Thursday, August 7th. Ardagh Metal Packaging's 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.