Private Management Group Inc. Cuts Stock Holdings in Ardagh Metal Packaging S.A. $AMBP

Private Management Group Inc. decreased its holdings in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,082,519 shares of the company’s stock after selling 396,136 shares during the quarter. Private Management Group Inc.’s holdings in Ardagh Metal Packaging were worth $20,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AMBP. AQR Capital Management LLC grew its holdings in shares of Ardagh Metal Packaging by 697.8% during the first quarter. AQR Capital Management LLC now owns 317,625 shares of the company’s stock worth $959,000 after purchasing an additional 277,813 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ardagh Metal Packaging during the first quarter worth about $43,000. Creative Planning purchased a new stake in Ardagh Metal Packaging in the second quarter worth approximately $109,000. JPMorgan Chase & Co. boosted its stake in Ardagh Metal Packaging by 310.1% in the second quarter. JPMorgan Chase & Co. now owns 729,506 shares of the company’s stock worth $3,122,000 after buying an additional 551,616 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Ardagh Metal Packaging in the second quarter worth approximately $224,000. Hedge funds and other institutional investors own 16.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMBP. Weiss Ratings raised Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Citigroup cut their target price on Ardagh Metal Packaging from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, April 24th. UBS Group cut their target price on Ardagh Metal Packaging from $4.75 to $4.25 and set a “neutral” rating for the company in a research note on Friday, April 10th. Finally, Wells Fargo & Company cut their target price on Ardagh Metal Packaging from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ardagh Metal Packaging has an average rating of “Hold” and an average target price of $4.51.

Ardagh Metal Packaging Price Performance

AMBP opened at $4.06 on Friday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.86 and a beta of 0.55. Ardagh Metal Packaging S.A. has a 1 year low of $3.29 and a 1 year high of $5.03. The stock’s 50 day simple moving average is $4.02 and its 200 day simple moving average is $4.20.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. The firm had revenue of $1.50 billion during the quarter. Ardagh Metal Packaging had a negative return on equity of 31.14% and a net margin of 0.19%. As a group, sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.25 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Thursday, June 11th.

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.