Renaissance Technologies LLC Raises Stock Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Renaissance Technologies LLC raised its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 19.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,817,632 shares of the company’s stock after purchasing an additional 294,700 shares during the period. Renaissance Technologies LLC owned 0.30% of Ardagh Metal Packaging worth $5,471,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Legal & General Group Plc lifted its stake in Ardagh Metal Packaging by 26.8% in the 4th quarter. Legal & General Group Plc now owns 30,784 shares of the company’s stock valued at $93,000 after buying an additional 6,509 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Ardagh Metal Packaging by 5.5% in the fourth quarter. Federated Hermes Inc. now owns 298,435 shares of the company’s stock valued at $898,000 after acquiring an additional 15,565 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Ardagh Metal Packaging by 324.1% in the fourth quarter. Russell Investments Group Ltd. now owns 522,040 shares of the company’s stock worth $1,571,000 after acquiring an additional 398,951 shares during the last quarter. Wells Fargo & Company MN raised its stake in Ardagh Metal Packaging by 41.1% in the 4th quarter. Wells Fargo & Company MN now owns 79,020 shares of the company’s stock valued at $238,000 after purchasing an additional 23,014 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Ardagh Metal Packaging by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,810,069 shares of the company’s stock valued at $5,448,000 after purchasing an additional 25,187 shares in the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

Analysts Set New Price Targets

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

Ardagh Metal Packaging Stock Up 2.1 %

AMBP stock opened at $2.70 on Monday. The business has a fifty day moving average of $2.81 and a two-hundred day moving average of $3.14. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -22.46, 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.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 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 company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. As a group, sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.40 annualized dividend and a dividend yield of 14.84%. Ardagh Metal Packaging’s dividend payout ratio is currently -800.00%.

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.