Contrarian Capital Management L.L.C. Sells 122,000 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Contrarian Capital Management L.L.C. reduced its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 48.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,000 shares of the company's stock after selling 122,000 shares during the period. Contrarian Capital Management L.L.C.'s holdings in Ardagh Metal Packaging were worth $385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC bought a new position in Ardagh Metal Packaging in the 4th quarter worth about $30,000. Cibc World Markets Corp bought a new stake in shares of Ardagh Metal Packaging during the fourth quarter valued at approximately $41,000. Xponance Inc. purchased a new stake in Ardagh Metal Packaging during the 4th quarter valued at $41,000. Aigen Investment Management LP purchased a new position in shares of Ardagh Metal Packaging in the fourth quarter worth $42,000. Finally, Franklin Resources Inc. bought a new position in shares of Ardagh Metal Packaging during the fourth quarter valued at $50,000. 16.93% of the stock is currently owned by institutional investors.

Ardagh Metal Packaging Stock Performance

Shares of AMBP stock traded down $0.03 during mid-day trading on Wednesday, reaching $2.75. 486,153 shares of the company's stock traded hands, compared to its average volume of 1,467,220. The firm has a market capitalization of $1.64 billion, a PE ratio of -22.91, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. Ardagh Metal Packaging S.A. has a 12 month low of $2.50 and a 12 month high of $4.26. The firm has a 50 day moving average price of $2.81 and a two-hundred day moving average price of $3.13.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. As a group, equities analysts expect that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 14.55%. The ex-dividend date of this dividend was Thursday, March 13th. Ardagh Metal Packaging's dividend payout ratio (DPR) is -800.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMBP. Citigroup reduced their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a "buy" rating for the company in a research note on Monday, January 6th. UBS Group dropped their price target on Ardagh Metal Packaging from $4.25 to $2.75 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company reiterated an "equal weight" rating and set a $3.35 price objective (down previously from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday, January 16th. Finally, Morgan Stanley raised Ardagh Metal Packaging from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $3.60 to $3.10 in a research report on Monday, January 13th. 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $3.44.

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.