Dimensional Fund Advisors LP Raises Stock Position in Ardagh Metal Packaging S.A. $AMBP

Key Points

• Dimensional Fund Advisors increased its Ardagh Metal Packaging stake by 20.9% in the first quarter, adding 801,019 shares to own 4.64 million shares, or 0.78% of the company. Institutional and hedge-fund investors collectively own 16.93% of AMBP.
• Ardagh reported quarterly revenue of $1.71 billion and earnings of $0.11 per share, exceeding analyst estimates while revenue grew 17.7% year over year.
• The company declared a quarterly dividend of $0.10, equating to an annualized yield of about 8.0%. Despite recent analyst price-target increases and some Buy ratings, the consensus view remains Hold with a $4.86 target price.

Dimensional Fund Advisors LP increased its holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 20.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,637,767 shares of the company's stock after buying an additional 801,019 shares during the period. Dimensional Fund Advisors LP owned 0.78% of Ardagh Metal Packaging worth $18,779,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kestra Advisory Services LLC bought a new stake in Ardagh Metal Packaging in the fourth quarter worth $33,000. Abel Hall LLC bought a new position in shares of Ardagh Metal Packaging in the 1st quarter worth approximately $42,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ardagh Metal Packaging in the 1st quarter valued at approximately $43,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Ardagh Metal Packaging in the 1st quarter valued at approximately $44,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Ardagh Metal Packaging by 13,495.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,876 shares of the company's stock worth $45,000 after purchasing an additional 10,796 shares in the last quarter. 16.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen raised Ardagh Metal Packaging from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Weiss Ratings restated a "hold (c)" rating on shares of Ardagh Metal Packaging in a report on Friday, July 24th. UBS Group lifted their price target on Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Wells Fargo & Company upped their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 15th. Finally, Citigroup reissued a "buy" rating on shares of Ardagh Metal Packaging in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $4.86.

Ardagh Metal Packaging Trading Down 0.1%

NYSE:AMBP opened at $5.01 on Friday. The business's 50-day moving average is $4.54 and its 200 day moving average is $4.37. Ardagh Metal Packaging S.A. has a 12 month low of $3.29 and a 12 month high of $5.43. The company has a market capitalization of $3.00 billion, a P/E ratio of 83.60, a P/E/G ratio of 0.97 and a beta of 0.51.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Ardagh Metal Packaging had a negative return on equity of 27.93% and a net margin of 0.68%.The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the business posted $0.08 earnings per share. The company's quarterly revenue was up 17.7% compared to the same quarter last year. On average, research analysts forecast that Ardagh Metal Packaging S.A. will post 0.28 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Thursday, September 10th. Ardagh Metal Packaging's dividend payout ratio (DPR) is currently 666.67%.

Ardagh Metal Packaging Company 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source