Pallas Capital Advisors LLC Takes Position in Ardagh Metal Packaging S.A. $AMBP

Pallas Capital Advisors LLC bought a new stake in Ardagh Metal Packaging S.A. (NYSE:AMBP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,132 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ardagh Metal Packaging in the first quarter valued at about $51,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ardagh Metal Packaging by 172.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,324,218 shares of the company’s stock valued at $28,159,000 after purchasing an additional 5,902,246 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ardagh Metal Packaging by 84.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 745,986 shares of the company’s stock valued at $2,253,000 after purchasing an additional 342,002 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Ardagh Metal Packaging by 2.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 137,503 shares of the company’s stock valued at $415,000 after buying an additional 3,320 shares during the period. Finally, Gilman Hill Asset Management LLC increased its holdings in Ardagh Metal Packaging by 10.3% during the first quarter. Gilman Hill Asset Management LLC now owns 1,967,087 shares of the company’s stock worth $5,941,000 after buying an additional 184,305 shares during the last quarter. Hedge funds and other institutional investors own 16.93% of the company’s stock.

Ardagh Metal Packaging Stock Down 1.4%

Shares of NYSE:AMBP opened at $3.86 on Wednesday. The firm has a market capitalization of $2.30 billion, a PE ratio of -128.50, a P/E/G ratio of 1.39 and a beta of 0.55. Ardagh Metal Packaging S.A. has a twelve month low of $2.50 and a twelve month high of $4.78. The company has a 50-day moving average price of $3.86 and a two-hundred day moving average price of $3.69.

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

Ardagh Metal Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Thursday, August 7th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date was Thursday, August 7th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is -1,333.33%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMBP. UBS Group decreased their price objective on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Tuesday, July 29th. Citigroup raised their price objective on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Morgan Stanley raised their price objective on shares of Ardagh Metal Packaging from $3.50 to $4.10 and gave the stock an “equal weight” rating in a report on Wednesday, June 25th. Finally, Wells Fargo & Company decreased their price objective on shares of Ardagh Metal Packaging from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ardagh Metal Packaging currently has a consensus rating of “Hold” and an average price target of $4.32.

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.