King Street Capital Management L.P. Takes Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

King Street Capital Management L.P. bought a new position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 4,350,000 shares of the company's stock, valued at approximately $14,790,000. Ardagh Metal Packaging accounts for 0.7% of King Street Capital Management L.P.'s holdings, making the stock its 4th biggest holding. King Street Capital Management L.P. owned approximately 0.73% of Ardagh Metal Packaging as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in Ardagh Metal Packaging by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,881 shares of the company's stock worth $113,000 after buying an additional 4,922 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Ardagh Metal Packaging by 34.5% in the 2nd quarter. Principal Financial Group Inc. now owns 19,521 shares of the company's stock worth $66,000 after acquiring an additional 5,009 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Ardagh Metal Packaging by 33.2% in the 1st quarter. HB Wealth Management LLC now owns 32,228 shares of the company's stock valued at $111,000 after purchasing an additional 8,026 shares during the period. Keeley Teton Advisors LLC grew its stake in Ardagh Metal Packaging by 0.5% during the first quarter. Keeley Teton Advisors LLC now owns 1,695,498 shares of the company's stock worth $5,816,000 after purchasing an additional 8,433 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Ardagh Metal Packaging by 10.1% in the second quarter. Hsbc Holdings PLC now owns 121,229 shares of the company's stock worth $416,000 after purchasing an additional 11,084 shares in the last quarter. Institutional investors own 16.93% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Ardagh Metal Packaging from $3.95 to $4.25 and gave the stock an "equal weight" rating in a research report on Friday, July 26th. UBS Group cut shares of Ardagh Metal Packaging from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $5.00 to $3.75 in a report on Wednesday, July 17th. Finally, Citigroup decreased 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, July 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Ardagh Metal Packaging presently has a consensus rating of "Hold" and a consensus price target of $3.67.

Ardagh Metal Packaging Stock Up 1.2 %

Shares of NYSE:AMBP traded up $0.04 during midday trading on Monday, hitting $3.67. 1,001,870 shares of the company's stock were exchanged, compared to its average volume of 1,357,163. Ardagh Metal Packaging S.A. has a 12 month low of $2.57 and a 12 month high of $4.17. The company has a market cap of $2.19 billion, a PE ratio of -25.86, a price-to-earnings-growth ratio of 0.75 and a beta of 0.61. The company has a debt-to-equity ratio of 124.21, a current ratio of 0.95 and a quick ratio of 0.66. The stock has a 50 day moving average price of $3.53 and a 200-day moving average price of $3.62.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Ardagh Metal Packaging had a positive return on equity of 114.77% and a negative net margin of 1.02%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. Ardagh Metal Packaging's revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.91%. The ex-dividend date of this dividend is Thursday, September 12th. Ardagh Metal Packaging's payout ratio is currently -285.71%.

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.