ING Groep NV Lowers Stock Holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP)

ING Groep NV cut its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 84.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 276,000 shares of the company’s stock after selling 1,480,000 shares during the period. ING Groep NV’s holdings in Ardagh Metal Packaging were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC purchased a new stake in shares of Ardagh Metal Packaging during the third quarter worth approximately $42,000. Quarry LP acquired a new stake in shares of Ardagh Metal Packaging in the 2nd quarter worth $45,000. nVerses Capital LLC boosted its holdings in shares of Ardagh Metal Packaging by 70.4% in the third quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock valued at $46,000 after acquiring an additional 5,000 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Ardagh Metal Packaging by 34.5% during the second 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 during the period. Finally, Signaturefd LLC raised its holdings in Ardagh Metal Packaging by 23.1% during the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after purchasing an additional 3,515 shares in the last quarter. 16.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMBP. Wells Fargo & Company upgraded Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $4.25 to $5.00 in a research report on Tuesday, October 15th. Bank of America upgraded Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $3.80 to $5.10 in a research report on Thursday, October 17th. Finally, Citigroup boosted their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.08.

Ardagh Metal Packaging Stock Down 1.1 %

Ardagh Metal Packaging stock opened at $3.62 on Monday. Ardagh Metal Packaging S.A. has a fifty-two week low of $3.16 and a fifty-two week high of $4.26. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -30.16, a price-to-earnings-growth ratio of 0.89 and a beta of 0.62. The stock’s fifty day moving average is $3.75 and its two-hundred day moving average is $3.69. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company earned $0.06 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Analysts predict that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 11.05%. The ex-dividend date of this dividend is Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -333.31%.

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.