Norges Bank Takes Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Norges Bank bought a new position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 292,456 shares of the company’s stock, valued at approximately $880,000.

Other large investors also recently modified their holdings of the company. Dakota Wealth Management lifted its stake in Ardagh Metal Packaging by 2.8% during the 4th quarter. Dakota Wealth Management now owns 146,682 shares of the company’s stock valued at $442,000 after acquiring an additional 4,030 shares in the last quarter. Ieq Capital LLC lifted its position in shares of Ardagh Metal Packaging by 15.7% during the fourth quarter. Ieq Capital LLC now owns 39,028 shares of the company’s stock valued at $117,000 after purchasing an additional 5,289 shares in the last quarter. Principle Wealth Partners LLC grew its position in Ardagh Metal Packaging by 13.3% in the 4th quarter. Principle Wealth Partners LLC now owns 56,987 shares of the company’s stock worth $172,000 after purchasing an additional 6,672 shares in the last quarter. Virtu Financial LLC increased its stake in Ardagh Metal Packaging by 36.1% in the 4th quarter. Virtu Financial LLC now owns 32,959 shares of the company’s stock valued at $99,000 after buying an additional 8,746 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Ardagh Metal Packaging by 14.0% in the 4th quarter. Victory Capital Management Inc. now owns 71,690 shares of the company’s stock worth $216,000 after buying an additional 8,802 shares during the last quarter. 16.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMBP shares. UBS Group decreased their price objective on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a report on Friday, January 10th. Morgan Stanley upgraded shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $3.60 to $3.10 in a research note on Monday, January 13th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $3.35 price objective (down previously from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. Finally, Citigroup decreased their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.44.

Ardagh Metal Packaging Stock Performance

Shares of AMBP stock opened at $2.72 on Friday. The company has a market capitalization of $1.62 billion, a PE ratio of -22.62, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. Ardagh Metal Packaging S.A. has a 52-week low of $2.50 and a 52-week high of $4.26. The business’s fifty day moving average is $2.80 and its 200 day moving average is $3.18.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. On average, sell-side analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 14.73%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is -800.00%.

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.