Massachusetts Financial Services Co. MA Sells 1,488,673 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Massachusetts Financial Services Co. MA cut its position in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 32.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,066,277 shares of the company's stock after selling 1,488,673 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.51% of Ardagh Metal Packaging worth $11,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. bought a new stake in Ardagh Metal Packaging during the third quarter valued at $273,000. Victory Capital Management Inc. grew its holdings in shares of Ardagh Metal Packaging by 71.4% during the third quarter. Victory Capital Management Inc. now owns 62,888 shares of the company's stock worth $237,000 after purchasing an additional 26,198 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Ardagh Metal Packaging in the third quarter worth approximately $333,000. Janney Montgomery Scott LLC grew its stake in Ardagh Metal Packaging by 0.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 641,868 shares of the company's stock worth $2,420,000 after buying an additional 3,290 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Ardagh Metal Packaging by 17.8% in the 3rd quarter. US Bancorp DE now owns 39,978 shares of the company's stock worth $151,000 after buying an additional 6,031 shares during the last quarter. 16.93% of the stock is owned by institutional investors.

Ardagh Metal Packaging Price Performance

AMBP stock opened at $3.70 on Wednesday. The firm has a 50-day moving average of $3.76 and a 200 day moving average of $3.68. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. The company has a market cap of $2.21 billion, a P/E ratio of -30.83, a PEG ratio of 0.92 and a beta of 0.62. Ardagh Metal Packaging S.A. has a 1 year low of $3.16 and a 1 year high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share 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 for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 10.81%. Ardagh Metal Packaging's payout ratio is -333.31%.

Wall Street Analysts Forecast Growth

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