Ardagh Metal Packaging S.A. (NYSE:AMBP) Stock Position Lowered by ING Groep NV

ING Groep NV cut its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 84.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 276,000 shares of the company's stock after selling 1,480,000 shares during the quarter. ING Groep NV's holdings in Ardagh Metal Packaging were worth $1,041,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AMBP. Ballentine Partners LLC acquired a new stake in shares of Ardagh Metal Packaging during the third quarter valued at about $42,000. Quarry LP bought a new stake in Ardagh Metal Packaging during the second quarter worth $45,000. nVerses Capital LLC lifted its position in shares of Ardagh Metal Packaging by 70.4% during the 3rd quarter. nVerses Capital LLC now owns 12,100 shares of the company's stock valued at $46,000 after buying an additional 5,000 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Ardagh Metal Packaging by 34.5% during the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company's stock valued at $66,000 after buying an additional 5,009 shares during the period. Finally, Signaturefd LLC boosted its holdings in Ardagh Metal Packaging by 23.1% in the 3rd quarter. Signaturefd LLC now owns 18,739 shares of the company's stock valued at $71,000 after purchasing an additional 3,515 shares during the period. 16.93% of the stock is owned by institutional investors.

Ardagh Metal Packaging Price Performance

Shares of NYSE:AMBP traded down $0.01 on Monday, hitting $3.61. The company had a trading volume of 1,176,589 shares, compared to its average volume of 1,376,736. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. Ardagh Metal Packaging S.A. has a 52-week low of $3.16 and a 52-week high of $4.26. The business has a 50 day moving average of $3.75 and a 200 day moving average of $3.69. The company has a market cap of $2.16 billion, a PE ratio of -30.00, a PEG ratio of 0.89 and a beta of 0.62.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm posted $0.06 earnings per share. The firm's revenue was up 1.5% on a year-over-year basis. As a group, equities analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 11.08%. The ex-dividend date of this dividend is Thursday, December 5th. Ardagh Metal Packaging's payout ratio is currently -333.31%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMBP shares. Wells Fargo & Company upgraded Ardagh Metal Packaging from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $4.25 to $5.00 in a research report on Tuesday, October 15th. Citigroup raised their price objective on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Finally, Bank of America raised shares of Ardagh Metal Packaging from an "underperform" rating to a "buy" rating and raised their price objective for the stock from $3.80 to $5.10 in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $4.08.

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.