Private Management Group Inc. Raises Stock Holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Key Points

• Private Management Group Inc. increased its stake in Ardagh Metal Packaging S.A. by 4.8% during the first quarter, now owning approximately 5.69 million shares valued at $17.2 million.
• Analysts have raised their price targets for Ardagh Metal Packaging, with Wells Fargo and Citigroup both setting targets of $5.00, while the stock has a consensus rating of "Hold" and a target price of $4.52.
• The company reported earnings of $0.08 per share in its latest quarterly results, exceeding expectations, and announced a quarterly dividend of $0.10, offering a dividend yield of 10.38%.

Private Management Group Inc. raised its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,690,572 shares of the company's stock after buying an additional 258,298 shares during the quarter. Private Management Group Inc. owned about 0.95% of Ardagh Metal Packaging worth $17,186,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cibc World Markets Corp acquired a new position in shares of Ardagh Metal Packaging in the 4th quarter worth approximately $41,000. Intech Investment Management LLC increased its stake in Ardagh Metal Packaging by 159.3% during the fourth quarter. Intech Investment Management LLC now owns 87,129 shares of the company's stock worth $262,000 after purchasing an additional 53,525 shares during the period. Xponance Inc. acquired a new stake in shares of Ardagh Metal Packaging during the fourth quarter worth about $41,000. Virtu Financial LLC boosted its stake in shares of Ardagh Metal Packaging by 36.1% in the fourth quarter. Virtu Financial LLC now owns 32,959 shares of the company's stock valued at $99,000 after purchasing an additional 8,746 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Ardagh Metal Packaging by 205.1% in the fourth quarter. JPMorgan Chase & Co. now owns 600,917 shares of the company's stock valued at $1,809,000 after purchasing an additional 403,938 shares in the last quarter. Hedge funds and other institutional investors own 16.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Ardagh Metal Packaging from $3.45 to $5.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Citigroup lifted 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. UBS Group increased their target price on Ardagh Metal Packaging from $3.40 to $4.50 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley upped 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $4.52.

Ardagh Metal Packaging Trading Down 16.9%

Shares of Ardagh Metal Packaging stock opened at $3.86 on Friday. The company has a fifty day simple moving average of $4.23 and a 200-day simple moving average of $3.38. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -96.38, a PEG ratio of 1.11 and a beta of 0.56. Ardagh Metal Packaging S.A. has a 12-month low of $2.50 and a 12-month high of $4.78.

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 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 0.08% and a negative return on equity of 112.58%. Ardagh Metal Packaging's quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. On average, analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Thursday, August 7th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.38%. Ardagh Metal Packaging's dividend payout ratio (DPR) is presently -1,000.00%.

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.

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