Norges Bank Buys Shares of 292,456 Ardagh Metal Packaging S.A. (NYSE:AMBP)

Norges Bank purchased a new position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 292,456 shares of the company's stock, valued at approximately $880,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Larson Financial Group LLC acquired a new stake in Ardagh Metal Packaging in the fourth quarter worth about $30,000. Cibc World Markets Corp bought a new stake in shares of Ardagh Metal Packaging during the 4th quarter worth about $41,000. Xponance Inc. acquired a new stake in shares of Ardagh Metal Packaging in the 4th quarter worth approximately $41,000. Aigen Investment Management LP bought a new position in shares of Ardagh Metal Packaging in the fourth quarter valued at approximately $42,000. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of Ardagh Metal Packaging by 52.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 26,781 shares of the company's stock valued at $81,000 after acquiring an additional 9,266 shares in the last quarter. Institutional investors own 16.93% of the company's stock.

Analyst Ratings Changes

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

Ardagh Metal Packaging Stock Up 0.2 %

Shares of AMBP stock traded up $0.01 during trading hours on Thursday, reaching $2.65. 155,927 shares of the stock traded hands, compared to its average volume of 1,468,868. The business has a fifty day moving average price of $2.81 and a 200 day moving average price of $3.17. Ardagh Metal Packaging S.A. has a 1-year low of $2.50 and a 1-year high of $4.26. The firm has a market capitalization of $1.58 billion, a PE ratio of -22.04, a PEG ratio of 0.54 and a beta of 0.54.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. Research 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 business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 15.12%. The ex-dividend date of this dividend was Thursday, March 13th. Ardagh Metal Packaging's dividend payout ratio is currently -800.00%.

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.