Federated Hermes Inc. Boosts Holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP)

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. lifted its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 34.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,935 shares of the company's stock after acquiring an additional 102,500 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Ardagh Metal Packaging worth $1,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. lifted its holdings in shares of Ardagh Metal Packaging by 140.6% during 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. Tower Research Capital LLC TRC increased its position 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 in the last quarter. Cerity Partners LLC bought a new position in Ardagh Metal Packaging during the 1st quarter valued at about $43,000. Franklin Resources Inc. acquired a new position in Ardagh Metal Packaging in the fourth quarter valued at about $50,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Ardagh Metal Packaging during the first quarter worth about $51,000. Institutional investors own 16.93% of the company's stock.

Ardagh Metal Packaging Price Performance

NYSE:AMBP traded down $0.02 during mid-day trading on Friday, reaching $3.78. The stock had a trading volume of 1,086,682 shares, compared to its average volume of 1,873,507. Ardagh Metal Packaging S.A. has a 12 month low of $2.50 and a 12 month high of $4.78. The stock has a 50-day simple moving average of $4.23 and a two-hundred day simple moving average of $3.46. The stock has a market capitalization of $2.26 billion, a PE ratio of -126.00, a P/E/G ratio of 1.37 and a beta of 0.55.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. Equities analysts expect that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Thursday, August 7th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 10.6%. The ex-dividend date of this dividend is Thursday, August 7th. Ardagh Metal Packaging's dividend payout ratio is presently -1,333.33%.

Wall Street Analyst Weigh In

Several analysts have recently commented on AMBP shares. Citigroup increased their target price 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 reduced their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. Morgan Stanley raised their price objective on shares of Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company cut their price target on 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. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $4.32.

Ardagh Metal Packaging Company 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.