Ardagh Metal Packaging (NYSE:AMBP) Sees Large Volume Increase – Here’s Why

Ardagh Metal Packaging S.A. (NYSE:AMBP) shares saw unusually-high trading volume on Friday . Approximately 1,083,455 shares were traded during mid-day trading, an increase of 23% from the previous session’s volume of 877,439 shares.The stock last traded at $4.3650 and had previously closed at $4.39.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMBP. Raymond James Financial initiated coverage on Ardagh Metal Packaging in a report on Wednesday, October 15th. They issued a “market perform” rating for the company. Morgan Stanley set a $4.30 price target on Ardagh Metal Packaging in a research report on Thursday, January 8th. Truist Financial increased their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a “hold” rating in a report on Tuesday, January 6th. UBS Group lifted their target price on shares of Ardagh Metal Packaging from $4.00 to $4.25 and gave the company a “neutral” rating in a report on Monday, January 12th. Finally, Wells Fargo & Company reduced their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 15th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.51.

Ardagh Metal Packaging Stock Down 0.5%

The company has a fifty day moving average of $3.97 and a two-hundred day moving average of $3.92. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -437.00, a P/E/G ratio of 0.97 and a beta of 0.55.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.39 billion. Ardagh Metal Packaging had a net margin of 0.30% and a negative return on equity of 58.16%. Ardagh Metal Packaging’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 EPS. Equities analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd were given a dividend of $0.10 per share. The ex-dividend date was Monday, November 3rd. This represents a $0.40 annualized dividend and a yield of 9.2%. Ardagh Metal Packaging’s payout ratio is presently -4,000.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMBP. Allspring Global Investments Holdings LLC lifted its holdings in Ardagh Metal Packaging by 9.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 56,828 shares of the company’s stock valued at $236,000 after acquiring an additional 4,741 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in shares of Ardagh Metal Packaging in the 4th quarter valued at about $984,000. Pallas Capital Advisors LLC purchased a new position in shares of Ardagh Metal Packaging in the 4th quarter valued at about $42,000. CWA Asset Management Group LLC boosted its holdings in Ardagh Metal Packaging by 107.6% during the fourth quarter. CWA Asset Management Group LLC now owns 500,070 shares of the company’s stock worth $2,050,000 after buying an additional 259,230 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Ardagh Metal Packaging by 46.4% during the third quarter. JPMorgan Chase & Co. now owns 1,068,046 shares of the company’s stock worth $4,262,000 after buying an additional 338,540 shares during the period. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.