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

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Ardagh Metal Packaging by 2.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 137,503 shares of the company's stock valued at $415,000 after purchasing an additional 3,320 shares during the last quarter. Marshall Wace LLP raised its position in Ardagh Metal Packaging by 2.4% in the 4th quarter. Marshall Wace LLP now owns 171,277 shares of the company's stock worth $516,000 after purchasing an additional 3,970 shares during the period. EP Wealth Advisors LLC grew its stake in shares of Ardagh Metal Packaging by 9.5% during the fourth quarter. EP Wealth Advisors LLC now owns 54,647 shares of the company's stock valued at $164,000 after buying an additional 4,731 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of Ardagh Metal Packaging by 3.7% in the 4th quarter. Gabelli Funds LLC now owns 139,000 shares of the company's stock valued at $418,000 after acquiring an additional 5,000 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in Ardagh Metal Packaging by 6.1% in the 4th quarter. MetLife Investment Management LLC now owns 90,709 shares of the company's stock worth $273,000 after purchasing an additional 5,218 shares during the period. 16.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AMBP shares. Wells Fargo & Company decreased their target price on shares of 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. Morgan Stanley boosted 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. Citigroup increased their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, UBS Group dropped their price target on 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. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.32.

Ardagh Metal Packaging Trading Down 0.5%

NYSE:AMBP traded down $0.02 on Friday, reaching $3.78. 1,086,682 shares of the stock traded hands, compared to its average volume of 1,873,507. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -126.00, a PEG ratio of 1.37 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. The company's fifty day simple moving average is $4.23 and its 200 day simple moving average is $3.46.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last announced its quarterly 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. Ardagh Metal Packaging had a net margin of 0.13% and a negative return on equity of 76.86%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm earned $0.06 earnings per share. The firm's quarterly revenue was up 15.6% compared to the same quarter last year. Equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Thursday, August 7th will be given a dividend of $0.10 per share. 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 -1,333.33%.

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.