Private Management Group Inc. Sells 1,082,854 Shares of Ardagh Metal Packaging S.A. $AMBP

Private Management Group Inc. lessened its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 21.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,882,058 shares of the company’s stock after selling 1,082,854 shares during the period. Private Management Group Inc.’s holdings in Ardagh Metal Packaging were worth $16,848,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Ardagh Metal Packaging by 4.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 69,541 shares of the company’s stock valued at $305,000 after acquiring an additional 3,115 shares during the last quarter. StoneX Group Inc. bought a new position in shares of Ardagh Metal Packaging during the 3rd quarter valued at approximately $113,000. State of Wyoming increased its stake in shares of Ardagh Metal Packaging by 169.6% during the 3rd quarter. State of Wyoming now owns 43,615 shares of the company’s stock worth $189,000 after purchasing an additional 27,438 shares during the last quarter. Signaturefd LLC increased its stake in shares of Ardagh Metal Packaging by 64.7% during the 3rd quarter. Signaturefd LLC now owns 23,708 shares of the company’s stock worth $103,000 after purchasing an additional 9,314 shares during the last quarter. Finally, Sterling Capital Management LLC increased its stake in shares of Ardagh Metal Packaging by 9.5% during the 3rd quarter. Sterling Capital Management LLC now owns 63,491 shares of the company’s stock worth $276,000 after purchasing an additional 5,534 shares during the last quarter. Institutional investors own 16.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating on shares of Ardagh Metal Packaging in a report on Friday, July 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ardagh Metal Packaging in a report on Wednesday, November 4th. Wall Street Zen downgraded Ardagh Metal Packaging from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Deutsche Bank Aktiengesellschaft started coverage on Ardagh Metal Packaging in a research report on Thursday, August 20th. They issued a “hold” rating and a $5.20 target price for the company. Finally, UBS Group boosted their target price on Ardagh Metal Packaging from $4.50 to $4.75 and gave the company a “neutral” rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Ardagh Metal Packaging presently has a consensus rating of “Hold” and an average target price of $4.88.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock opened at $4.80 on Tuesday. The stock has a market capitalization of $2.87 billion, a P/E ratio of 53.39, a P/E/G ratio of 0.95 and a beta of 0.52. Ardagh Metal Packaging S.A. has a 52-week low of $3.31 and a 52-week high of $5.47. The stock’s 50-day simple moving average is $4.62 and its 200 day simple moving average is $4.49.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Tuesday, October 20th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.52 billion. Ardagh Metal Packaging had a net margin of 0.93% and a negative return on equity of 23.24%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. Equities research analysts forecast that Ardagh Metal Packaging S.A. will post 0.26 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 26th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $0.40 annualized dividend and a dividend yield of 8.3%. Ardagh Metal Packaging’s payout ratio is 444.44%.

About Ardagh Metal Packaging