Solas Capital Management LLC Purchases 330,000 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Solas Capital Management LLC raised its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,361,378 shares of the company's stock after purchasing an additional 330,000 shares during the period. Ardagh Metal Packaging accounts for 6.7% of Solas Capital Management LLC's holdings, making the stock its 8th biggest position. Solas Capital Management LLC owned about 0.56% of Ardagh Metal Packaging worth $10,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of AMBP. Larson Financial Group LLC purchased a new stake in shares of Ardagh Metal Packaging during the fourth quarter worth $30,000. Tower Research Capital LLC TRC raised its holdings in Ardagh Metal Packaging by 292.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the company's stock valued at $33,000 after acquiring an additional 8,180 shares during the last quarter. Cibc World Markets Corp purchased a new position in Ardagh Metal Packaging in the 4th quarter worth approximately $41,000. Xponance Inc. acquired a new position in shares of Ardagh Metal Packaging during the 4th quarter worth approximately $41,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Ardagh Metal Packaging in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 16.93% of the company's stock.

Ardagh Metal Packaging Price Performance

Shares of NYSE AMBP traded up $0.07 during midday trading on Tuesday, hitting $3.78. The company's stock had a trading volume of 2,758,131 shares, compared to its average volume of 1,525,573. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -31.46, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. The business's fifty day simple moving average is $2.88 and its two-hundred day simple moving average is $3.12. Ardagh Metal Packaging S.A. has a 1 year low of $2.50 and a 1 year high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.17 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 10.60%. The ex-dividend date of this dividend is Monday, May 5th. Ardagh Metal Packaging's payout ratio is presently -1,000.00%.

Wall Street Analyst Weigh In

AMBP has been the subject of several analyst reports. Morgan Stanley upgraded Ardagh Metal Packaging from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $3.60 to $3.10 in a report on Monday, January 13th. Citigroup decreased their target price on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $3.35 price objective (down from $3.60) on shares of Ardagh Metal Packaging in a report on Thursday, January 16th. Finally, UBS Group reduced their price objective on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a "neutral" rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Ardagh Metal Packaging currently has a consensus rating of "Hold" and an average price target of $3.44.

Ardagh Metal Packaging 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.