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

Several other large investors also recently added to or reduced their stakes in AMBP. SBI Securities Co. Ltd. raised its stake in Ardagh Metal Packaging by 140.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,173 shares of the company's stock valued at $28,000 after purchasing an additional 5,361 shares during the period. Tower Research Capital LLC TRC raised its stake in 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 valued at $33,000 after purchasing an additional 8,180 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Ardagh Metal Packaging during the 1st quarter valued at $33,000. Cerity Partners LLC acquired a new stake in Ardagh Metal Packaging during the 1st quarter valued at $43,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Ardagh Metal Packaging during the 1st quarter valued at $51,000. 16.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on AMBP shares. Morgan Stanley boosted their target price on shares of Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a research note on Wednesday, June 25th. UBS Group dropped 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 note on Tuesday, July 29th. Wells Fargo & Company dropped their price target 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. Finally, Citigroup upped 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. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.32.

Ardagh Metal Packaging Stock Performance

Shares of NYSE AMBP traded down $0.02 during mid-day trading on Friday, reaching $3.57. The company had a trading volume of 550,190 shares, compared to its average volume of 767,448. The stock has a market capitalization of $2.13 billion, a PE ratio of -118.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.55. Ardagh Metal Packaging S.A. has a twelve month low of $2.50 and a twelve month high of $4.78. The stock's 50 day moving average is $3.98 and its 200-day moving average is $3.64.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.33 billion. Ardagh Metal Packaging had a net margin of 0.13% and a negative return on equity of 76.86%. Ardagh Metal Packaging's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. On average, sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Thursday, August 7th were issued a $0.10 dividend. The ex-dividend date was Thursday, August 7th. This represents a $0.40 dividend on an annualized basis and a yield of 11.2%. Ardagh Metal Packaging's dividend 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.