Citigroup Inc. Buys 164,011 Shares of Ardagh Metal Packaging S.A. $AMBP

Citigroup Inc. boosted its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 48.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,580 shares of the company’s stock after purchasing an additional 164,011 shares during the quarter. Citigroup Inc. owned about 0.08% of Ardagh Metal Packaging worth $2,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC purchased a new stake in shares of Ardagh Metal Packaging during the third quarter valued at about $40,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ardagh Metal Packaging in the 1st quarter valued at about $43,000. Capula Management Ltd purchased a new position in shares of Ardagh Metal Packaging in the 2nd quarter worth approximately $45,000. Captrust Financial Advisors bought a new position in shares of Ardagh Metal Packaging during the 2nd quarter worth approximately $47,000. Finally, Sei Investments Co. bought a new position in shares of Ardagh Metal Packaging during the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 16.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AMBP. UBS Group raised their target price on shares of Ardagh Metal Packaging from $4.00 to $4.25 and gave the company a “neutral” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ardagh Metal Packaging in a research report on Wednesday, January 21st. Wells Fargo & Company increased their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Morgan Stanley set a $4.30 price objective on Ardagh Metal Packaging in a research report on Thursday, January 8th. Finally, Truist Financial boosted their target price on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.71.

Ardagh Metal Packaging Stock Down 1.6%

AMBP stock opened at $4.53 on Monday. The firm has a 50 day moving average of $4.52 and a 200 day moving average of $4.03. The stock has a market capitalization of $2.70 billion, a PE ratio of -452.50, a price-to-earnings-growth ratio of 1.11 and a beta of 0.54. Ardagh Metal Packaging S.A. has a 52 week low of $2.53 and a 52 week high of $5.03.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, February 26th. 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 net margin of 0.20% and a negative return on equity of 37.42%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, equities research analysts expect that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.8%. Ardagh Metal Packaging’s payout ratio is -4,000.00%.

Ardagh Metal Packaging Company Profile

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.