Ardagh Metal Packaging (NYSE:AMBP) Trading Up 6.7% Following Dividend Announcement

Ardagh Metal Packaging S.A. (NYSE:AMBP) was up 6.7% on Thursday after the company announced a dividend. The stock traded as high as $4.04 and last traded at $3.98. Approximately 918,827 shares traded hands during trading, a decline of 23% from the average daily volume of 1,193,984 shares. The stock had previously closed at $3.73.

The newly announced dividend which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $0.40 annualized dividend and a yield of 9.88%. Ardagh Metal Packaging’s payout ratio is -285.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays lowered shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. in a report on Monday, January 8th. UBS Group assumed coverage on shares of Ardagh Metal Packaging in a report on Tuesday, January 16th. They set a “buy” rating and a $5.00 price objective on the stock. Truist Financial reiterated a “hold” rating and set a $3.00 price objective (down previously from $4.00) on shares of Ardagh Metal Packaging in a report on Monday, February 26th. Wells Fargo & Company upped their price objective on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, Morgan Stanley assumed coverage on shares of Ardagh Metal Packaging in a research report on Monday, March 18th. They set an “underweight” rating and a $3.20 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.31.

Ardagh Metal Packaging Stock Up 1.0 %

The company has a debt-to-equity ratio of 34.34, a current ratio of 0.99 and a quick ratio of 0.68. The stock’s 50-day simple moving average is $3.48 and its 200-day simple moving average is $3.56.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 43.89%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm posted $0.01 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Ardagh Metal Packaging S.A. will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Ardagh Metal Packaging

Institutional investors have recently added to or reduced their stakes in the company. Keeley Teton Advisors LLC grew its position in shares of Ardagh Metal Packaging by 15.0% during the 3rd quarter. Keeley Teton Advisors LLC now owns 1,579,381 shares of the company’s stock valued at $4,943,000 after acquiring an additional 206,295 shares during the period. Aigen Investment Management LP grew its position in shares of Ardagh Metal Packaging by 253.1% during the 3rd quarter. Aigen Investment Management LP now owns 55,497 shares of the company’s stock valued at $174,000 after acquiring an additional 39,780 shares during the period. Barclays PLC grew its position in shares of Ardagh Metal Packaging by 53.0% during the 3rd quarter. Barclays PLC now owns 1,105,701 shares of the company’s stock valued at $3,461,000 after acquiring an additional 383,081 shares during the period. Wedmont Private Capital bought a new position in shares of Ardagh Metal Packaging during the 4th quarter valued at approximately $39,000. Finally, BW Gestao de Investimentos Ltda. grew its position in shares of Ardagh Metal Packaging by 771.2% during the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 2,783,639 shares of the company’s stock valued at $8,713,000 after acquiring an additional 2,464,105 shares during the period. 16.93% of the stock is owned by institutional investors.

About Ardagh Metal Packaging

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.