Jacobs Levy Equity Management Inc. Cuts Stake in Ardagh Metal Packaging S.A. $AMBP

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Ardagh Metal Packaging S.A. by 15.3% during the first quarter, now holding 1,522,344 shares valued at approximately $4.6 million.
• Several institutional investors, including Dimensional Fund Advisors and Tower Research Capital, modified their positions in Ardagh Metal Packaging, with institutional ownership totaling 16.93%.
• Ardagh Metal Packaging recently declared a quarterly dividend of $0.10 per share, translating to an annualized yield of 11.3%, despite a significant negative dividend payout ratio.

Jacobs Levy Equity Management Inc. lowered its position in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 15.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,522,344 shares of the company's stock after selling 275,356 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.25% of Ardagh Metal Packaging worth $4,597,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AMBP. AQR Capital Management LLC boosted its holdings in shares of Ardagh Metal Packaging by 697.8% during the 1st quarter. AQR Capital Management LLC now owns 317,625 shares of the company's stock valued at $959,000 after purchasing an additional 277,813 shares during the last quarter. Anchorage Capital Advisors L.P. boosted its holdings in shares of Ardagh Metal Packaging by 85.9% during the 1st quarter. Anchorage Capital Advisors L.P. now owns 3,601,083 shares of the company's stock valued at $10,875,000 after purchasing an additional 1,664,083 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Ardagh Metal Packaging by 23.9% during the 1st quarter. EP Wealth Advisors LLC now owns 67,730 shares of the company's stock valued at $205,000 after purchasing an additional 13,083 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of Ardagh Metal Packaging by 31.4% during the 1st quarter. Vident Advisory LLC now owns 44,247 shares of the company's stock valued at $134,000 after purchasing an additional 10,563 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of Ardagh Metal Packaging by 33.9% during the 1st quarter. State of Wyoming now owns 39,446 shares of the company's stock valued at $119,000 after purchasing an additional 9,977 shares during the last quarter. Institutional investors own 16.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMBP shares. Wells Fargo & Company dropped their price objective on shares of 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 lowered their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Citigroup increased their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Finally, Morgan Stanley increased their price target on shares of Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Ardagh Metal Packaging presently has a consensus rating of "Hold" and a consensus price target of $4.32.

Ardagh Metal Packaging Stock Performance

NYSE AMBP traded down $0.02 during trading on Friday, hitting $3.57. The stock had a trading volume of 550,190 shares, compared to its average volume of 1,732,767. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -118.83, a P/E/G ratio of 1.25 and a beta of 0.55. Ardagh Metal Packaging S.A. has a one year low of $2.50 and a one year high of $4.78. The stock has a 50 day simple moving average of $4.00 and a 200 day simple moving average of $3.63.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.08 earnings per share (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 the consensus estimate of $1.33 billion. Ardagh Metal Packaging had a net margin of 0.13% and a negative return on equity of 76.86%. The firm's quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. On average, sell-side analysts predict 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 was paid on Tuesday, August 19th. Stockholders of record on Thursday, August 7th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend was Thursday, August 7th. Ardagh Metal Packaging's payout ratio is currently -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.