IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 90,717 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in Ardagh Metal Packaging S.A. by 21.7% in the first quarter, leaving it with about 0.05% ownership worth approximately $991,000.
• The company reported $0.08 earnings per share for the most recent quarter, exceeding analysts' expectations, while revenue rose by 15.6% year-over-year.
• Ardagh Metal Packaging has announced a quarterly dividend of $0.10 per share, representing a 10.2% dividend yield, to be paid on August 19th.

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 21.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,013 shares of the company's stock after selling 90,717 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.05% of Ardagh Metal Packaging worth $991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. grew its position in shares of Ardagh Metal Packaging by 140.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,173 shares of the company's stock valued at $28,000 after buying an additional 5,361 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Ardagh Metal Packaging by 292.7% in the fourth 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 during the last quarter. Cerity Partners LLC purchased a new stake in shares of Ardagh Metal Packaging in the first quarter worth approximately $43,000. Franklin Resources Inc. purchased a new stake in shares of Ardagh Metal Packaging in the fourth quarter worth approximately $50,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Ardagh Metal Packaging in the first quarter valued at approximately $51,000. 16.93% of the stock is owned by institutional investors and hedge funds.

Ardagh Metal Packaging Stock Down 0.5%

Shares of AMBP traded down $0.02 during trading hours on Friday, hitting $3.78. The company had a trading volume of 1,086,682 shares, compared to its average volume of 1,882,991. The firm has a market cap of $2.26 billion, a P/E ratio of -126.00, a P/E/G ratio of 1.35 and a beta of 0.55. The stock's 50 day moving average price is $4.23 and its 200 day moving average price is $3.47. Ardagh Metal Packaging S.A. has a 52-week low of $2.50 and a 52-week high of $4.78.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $1.46 billion for 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%. The company's quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. On average, research analysts expect that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company reduced 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. UBS Group cut their price target 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. Morgan Stanley increased their price objective on Ardagh Metal Packaging from $3.50 to $4.10 and gave the stock an "equal weight" rating in a research report on Wednesday, June 25th. Finally, Citigroup increased their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $4.32.

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.