Gabelli Funds LLC Grows Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Gabelli Funds LLC boosted its holdings in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 16.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,566 shares of the company’s stock after acquiring an additional 18,566 shares during the period. Gabelli Funds LLC’s holdings in Ardagh Metal Packaging were worth $444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brightline Capital Management LLC purchased a new position in Ardagh Metal Packaging in the fourth quarter worth approximately $8,582,000. Grizzlyrock Capital LLC purchased a new position in shares of Ardagh Metal Packaging during the 4th quarter worth $9,360,000. Vanguard Group Inc. increased its position in shares of Ardagh Metal Packaging by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 1,065,659 shares of the company’s stock worth $3,655,000 after purchasing an additional 106,206 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Ardagh Metal Packaging by 42.9% in the 1st quarter. SG Americas Securities LLC now owns 103,840 shares of the company’s stock valued at $356,000 after acquiring an additional 31,156 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Ardagh Metal Packaging by 58.9% in the second quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock valued at $1,677,000 after purchasing an additional 182,906 shares during the period. Institutional investors and hedge funds own 16.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMBP. Citigroup decreased their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Monday, July 8th. UBS Group downgraded shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $5.00 to $3.75 in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their price target on shares of Ardagh Metal Packaging from $3.95 to $4.25 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Ardagh Metal Packaging has an average rating of “Hold” and a consensus target price of $3.67.

Ardagh Metal Packaging Stock Up 0.4 %

Shares of NYSE:AMBP opened at $3.72 on Friday. The firm has a 50 day simple moving average of $3.53 and a 200-day simple moving average of $3.62. Ardagh Metal Packaging S.A. has a twelve month low of $2.57 and a twelve month high of $4.17. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 124.21. The company has a market capitalization of $2.22 billion, a PE ratio of -26.53, a P/E/G ratio of 0.78 and a beta of 0.61.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.32 billion. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. Ardagh Metal Packaging’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, equities analysts predict that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 10.77%. The ex-dividend date of this dividend was Thursday, September 12th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is -285.69%.

Ardagh Metal Packaging Company 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.