Ardagh Metal Packaging S.A. (NYSE:AMBP) Stock Position Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 27.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,554,950 shares of the company's stock after selling 1,685,029 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.76% of Ardagh Metal Packaging worth $15,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brightline Capital Management LLC purchased a new position in shares of Ardagh Metal Packaging in the fourth quarter valued at $8,582,000. Grizzlyrock Capital LLC acquired a new stake in shares of Ardagh Metal Packaging during the fourth quarter worth $9,360,000. Vanguard Group Inc. raised its holdings in shares of Ardagh Metal Packaging by 11.1% during the first quarter. Vanguard Group Inc. now owns 1,065,659 shares of the company's stock worth $3,655,000 after purchasing an additional 106,206 shares during the period. Gabelli Funds LLC raised its holdings in shares of Ardagh Metal Packaging by 12.0% during the first quarter. Gabelli Funds LLC now owns 112,000 shares of the company's stock worth $384,000 after purchasing an additional 12,000 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Ardagh Metal Packaging by 42.9% during the first quarter. SG Americas Securities LLC now owns 103,840 shares of the company's stock worth $356,000 after purchasing an additional 31,156 shares during the period. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMBP shares. UBS Group cut shares of Ardagh Metal Packaging from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $5.00 to $3.75 in a report on Wednesday, July 17th. Citigroup dropped 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, July 8th. Finally, Wells Fargo & Company increased their target price on shares of Ardagh Metal Packaging from $3.95 to $4.25 and gave the stock an "equal weight" rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Ardagh Metal Packaging presently has a consensus rating of "Hold" and an average target price of $3.67.

Ardagh Metal Packaging Stock Performance

Shares of AMBP stock traded down $0.07 during trading hours on Friday, reaching $3.62. The stock had a trading volume of 1,538,164 shares, compared to its average volume of 1,359,115. The company has a debt-to-equity ratio of 124.21, a current ratio of 0.95 and a quick ratio of 0.66. Ardagh Metal Packaging S.A. has a twelve month low of $2.57 and a twelve month high of $4.17. The firm has a 50-day simple moving average of $3.53 and a 200-day simple moving average of $3.61. The firm has a market capitalization of $2.16 billion, a PE ratio of -25.86, a price-to-earnings-growth ratio of 0.75 and a beta of 0.61.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.32 billion. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The company's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. As a group, equities analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.40 dividend on an annualized basis and a yield of 11.05%. Ardagh Metal Packaging's dividend payout ratio is presently -285.71%.

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.