Ardagh Metal Packaging (NYSE:AMBP) Trading Up 6.7% Following Dividend Announcement

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s share price rose 6.7% on Thursday after the company announced a dividend. The stock traded as high as $4.04 and last traded at $3.98. Approximately 918,827 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 1,193,984 shares. The stock had previously closed at $3.73.

The newly announced dividend which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, June 12th. This represents a $0.40 annualized dividend and a yield of 9.88%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is currently -285.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. UBS Group initiated coverage on shares of Ardagh Metal Packaging in a report on Tuesday, January 16th. They issued a “buy” rating and a $5.00 target price for the company. Truist Financial reaffirmed a “hold” rating and issued a $3.00 price target (down previously from $4.00) on shares of Ardagh Metal Packaging in a research note on Monday, February 26th. Barclays downgraded shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price target on the stock. in a research note on Monday, January 8th. Finally, Bank of America downgraded shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $4.10 to $3.50 in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.31.

Ardagh Metal Packaging Stock Up 1.0 %

The business’s 50 day moving average is $3.48 and its 200 day moving average is $3.56. The company has a debt-to-equity ratio of 34.34, a current ratio of 0.99 and a quick ratio of 0.68.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 43.89%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business posted $0.01 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts forecast that Ardagh Metal Packaging S.A. will post 0.19 EPS for the current fiscal year.

Institutional Trading of Ardagh Metal Packaging

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capital Investment Advisory Services LLC lifted its stake in Ardagh Metal Packaging by 181.2% during the 1st quarter. Capital Investment Advisory Services LLC now owns 47,800 shares of the company’s stock valued at $164,000 after acquiring an additional 30,800 shares during the period. PFG Investments LLC purchased a new position in shares of Ardagh Metal Packaging during the 1st quarter valued at approximately $158,000. Gilman Hill Asset Management LLC increased its holdings in shares of Ardagh Metal Packaging by 1.2% during the 1st quarter. Gilman Hill Asset Management LLC now owns 1,782,246 shares of the company’s stock valued at $6,113,000 after purchasing an additional 21,411 shares in the last quarter. Sanders Morris Harris LLC purchased a new position in shares of Ardagh Metal Packaging during the 1st quarter valued at approximately $98,000. Finally, Grizzlyrock Capital LLC purchased a new position in shares of Ardagh Metal Packaging during the 4th quarter valued at approximately $9,360,000. 16.93% of the stock is currently owned by institutional investors and hedge funds.

Ardagh Metal Packaging Company 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.