Ardagh Metal Packaging (NYSE:AMBP) Sees Unusually-High Trading Volume – Should You Buy?

Ardagh Metal Packaging S.A. (NYSE:AMBP) saw strong trading volume on Monday . Approximately 1,850,850 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 1,627,962 shares.The stock last traded at $4.9050 and had previously closed at $4.78.

Wall Street Analyst Weigh In

AMBP has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Ardagh Metal Packaging from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup reiterated a “buy” rating on shares of Ardagh Metal Packaging in a research note on Friday. UBS Group increased their target price on Ardagh Metal Packaging from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company raised their target price on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.86.

Ardagh Metal Packaging Trading Up 1.8%

The firm has a market capitalization of $2.91 billion, a PE ratio of 81.10, a P/E/G ratio of 0.99 and a beta of 0.51. The company has a fifty day moving average price of $4.37 and a two-hundred day moving average price of $4.32.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.57 billion. Ardagh Metal Packaging had a negative return on equity of 27.93% and a net margin of 0.68%.The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. As a group, equities research analysts predict that Ardagh Metal Packaging S.A. will post 0.26 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.40 annualized dividend and a dividend yield of 8.2%. Ardagh Metal Packaging’s dividend payout ratio is 666.67%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. lifted its position in Ardagh Metal Packaging by 540.2% during the 1st quarter. Optiver Holding B.V. now owns 7,145 shares of the company’s stock worth $29,000 after acquiring an additional 6,029 shares during the period. Bank of America Corp DE raised its stake in shares of Ardagh Metal Packaging by 139.6% during the first quarter. Bank of America Corp DE now owns 249,581 shares of the company’s stock worth $1,011,000 after purchasing an additional 145,418 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Ardagh Metal Packaging by 139.1% during the first quarter. Quantinno Capital Management LP now owns 25,477 shares of the company’s stock worth $103,000 after purchasing an additional 14,820 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Ardagh Metal Packaging by 160.0% during the first quarter. Lazard Asset Management LLC now owns 89,952 shares of the company’s stock worth $364,000 after purchasing an additional 55,356 shares during the period. Finally, Weiss Asset Management LP grew its position in Ardagh Metal Packaging by 11,276.2% in the 1st quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company’s stock valued at $18,291,000 after buying an additional 4,476,638 shares during the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

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.