Contrarian Capital Management L.L.C. Acquires 22,000 Shares of Ardagh Metal Packaging S.A. $AMBP

Contrarian Capital Management L.L.C. increased its holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 17.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,000 shares of the company’s stock after acquiring an additional 22,000 shares during the quarter. Contrarian Capital Management L.L.C.’s holdings in Ardagh Metal Packaging were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ieq Capital LLC grew its stake in shares of Ardagh Metal Packaging by 160.7% in the 1st quarter. Ieq Capital LLC now owns 101,733 shares of the company’s stock worth $307,000 after buying an additional 62,705 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Ardagh Metal Packaging by 5.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,384,608 shares of the company’s stock worth $4,182,000 after buying an additional 70,175 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Ardagh Metal Packaging in the 1st quarter worth approximately $33,000. Quantbot Technologies LP grew its stake in shares of Ardagh Metal Packaging by 17.1% in the 1st quarter. Quantbot Technologies LP now owns 96,779 shares of the company’s stock worth $292,000 after buying an additional 14,132 shares during the last quarter. Finally, Nuveen LLC bought a new position in Ardagh Metal Packaging in the 1st quarter valued at approximately $1,229,000. Hedge funds and other institutional investors own 16.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AMBP. Citigroup boosted their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. UBS Group lowered their target price on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 29th. Wells Fargo & Company lowered their target price on shares of Ardagh Metal Packaging from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Monday, July 28th. Finally, Morgan Stanley lifted their price target on shares of Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an “equal weight” rating in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ardagh Metal Packaging presently has an average rating of “Hold” and a consensus target price of $4.32.

Ardagh Metal Packaging Trading Down 0.4%

Ardagh Metal Packaging stock opened at $3.67 on Wednesday. The firm has a market capitalization of $2.19 billion, a PE ratio of -122.17, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. Ardagh Metal Packaging S.A. has a 12-month low of $2.50 and a 12-month high of $4.78. The firm has a 50-day moving average price of $4.17 and a 200-day moving average price of $3.56.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a net margin of 0.13% and a negative return on equity of 76.86%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $0.06 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. As a group, sell-side analysts predict that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Thursday, August 7th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, August 7th. This represents a $0.40 annualized dividend and a dividend yield of 10.9%. Ardagh Metal Packaging’s dividend payout ratio is -1,333.33%.

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.