Northern Trust Corp Acquires 7,675 Shares of Ardagh Group SA (ARD)
Northern Trust Corp lifted its holdings in shares of Ardagh Group SA (NYSE:ARD) by 20.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,311 shares of the company’s stock after acquiring an additional 7,675 shares during the period. Northern Trust Corp owned approximately 0.24% of Ardagh Group worth $737,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Canyon Capital Advisors LLC increased its position in shares of Ardagh Group by 0.4% during the second quarter. Canyon Capital Advisors LLC now owns 2,658,756 shares of the company’s stock worth $44,189,000 after acquiring an additional 9,500 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Ardagh Group by 40.9% during the second quarter. Citadel Advisors LLC now owns 824,516 shares of the company’s stock worth $13,703,000 after acquiring an additional 239,224 shares in the last quarter. BlackRock Inc. increased its position in shares of Ardagh Group by 11.3% during the second quarter. BlackRock Inc. now owns 415,230 shares of the company’s stock worth $6,901,000 after acquiring an additional 42,162 shares in the last quarter. Private Management Group Inc. bought a new stake in shares of Ardagh Group during the second quarter worth about $2,118,000. Finally, Balter Liquid Alternatives LLC grew its position in Ardagh Group by 14.9% in the 2nd quarter. Balter Liquid Alternatives LLC now owns 48,663 shares of the company’s stock worth $817,000 after purchasing an additional 6,307 shares in the last quarter. 89.03% of the stock is owned by institutional investors.
A number of brokerages have issued reports on ARD. Zacks Investment Research raised shares of Ardagh Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. Credit Suisse Group reiterated a “neutral” rating and issued a $15.30 target price (down from $21.00) on shares of Ardagh Group in a research note on Monday, November 12th. Deutsche Bank set a $18.00 target price on shares of Ardagh Group and gave the company a “buy” rating in a research note on Monday, October 29th. Finally, Barclays dropped their target price on shares of Ardagh Group from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, October 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $19.22.
Ardagh Group (NYSE:ARD) last released its earnings results on Thursday, October 25th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Ardagh Group had a net margin of 0.94% and a negative return on equity of 30.73%. As a group, equities research analysts anticipate that Ardagh Group SA will post 1.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 16th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend was Thursday, November 15th. Ardagh Group’s payout ratio is currently 7.61%.
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Ardagh Group Profile
Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.
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