Renaissance Technologies LLC Grows Stock Position in Ardagh Metal Packaging S.A. $AMBP

Renaissance Technologies LLC lifted its position in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 31.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,894,210 shares of the company's stock after acquiring an additional 699,478 shares during the period. Renaissance Technologies LLC owned 0.48% of Ardagh Metal Packaging worth $11,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new position in Ardagh Metal Packaging in the 4th quarter valued at $33,000. Abel Hall LLC purchased a new stake in shares of Ardagh Metal Packaging during the first quarter worth $42,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Ardagh Metal Packaging by 13,495.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,876 shares of the company's stock worth $45,000 after buying an additional 10,796 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Ardagh Metal Packaging in the second quarter valued at about $47,000. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in shares of Ardagh Metal Packaging in the first quarter valued at about $44,000. 16.93% of the stock is owned by institutional investors and hedge funds.

Ardagh Metal Packaging Price Performance

NYSE AMBP opened at $4.73 on Friday. The firm's 50-day moving average is $4.46 and its two-hundred day moving average is $4.35. Ardagh Metal Packaging S.A. has a 12 month low of $3.29 and a 12 month high of $5.43. The stock has a market capitalization of $2.83 billion, a P/E ratio of 78.90, a PEG ratio of 0.92 and a beta of 0.51.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Ardagh Metal Packaging had a net margin of 0.68% and a negative return on equity of 27.93%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm posted $0.08 earnings per share. Ardagh Metal Packaging's revenue was up 17.7% compared to the same quarter last year. As a group, analysts anticipate that Ardagh Metal Packaging S.A. will post 0.28 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.5%. Ardagh Metal Packaging's dividend payout ratio (DPR) is presently 666.67%.

Analyst Ratings Changes

AMBP has been the topic of a number of recent research reports. Citigroup restated a "buy" rating on shares of Ardagh Metal Packaging in a research report on Friday, July 24th. Wall Street Zen upgraded shares of Ardagh Metal Packaging from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. UBS Group raised their target price on shares of Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Weiss Ratings restated a "hold (c)" rating on shares of Ardagh Metal Packaging in a report on Friday, July 24th. Finally, Wells Fargo & Company upped their price target on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.86.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging NYSE: AMBP is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.

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