Ardagh Metal Packaging (NYSE:AMBP) Sees Unusually-High Trading Volume

Ardagh Metal Packaging S.A. (NYSE:AMBP) saw an uptick in trading volume on Friday . 2,268,019 shares changed hands during mid-day trading, an increase of 71% from the previous session’s volume of 1,326,946 shares.The stock last traded at $3.39 and had previously closed at $3.35.

Wall Street Analysts Forecast Growth

AMBP has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Morgan Stanley initiated coverage on Ardagh Metal Packaging in a research report on Monday, March 18th. They set an “underweight” rating and a $3.20 price target on the stock. Finally, Bank of America lowered shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $4.10 to $3.50 in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.31.

Ardagh Metal Packaging Trading Up 1.2 %

The company has a debt-to-equity ratio of 124.21, a current ratio of 0.95 and a quick ratio of 0.61. The company’s 50-day moving average is $3.82 and its two-hundred day moving average is $3.68.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 55.91%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company posted $0.01 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, sell-side analysts predict that Ardagh Metal Packaging S.A. will post 0.2 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 11.80%. The ex-dividend date was Wednesday, June 12th. Ardagh Metal Packaging’s payout ratio is currently -285.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Grizzlyrock Capital LLC purchased a new position in shares of Ardagh Metal Packaging in the fourth quarter worth about $9,360,000. Brightline Capital Management LLC bought a new position in Ardagh Metal Packaging during the 4th quarter worth approximately $8,582,000. ING Groep NV lifted its position in Ardagh Metal Packaging by 548.0% in the fourth quarter. ING Groep NV now owns 1,756,000 shares of the company’s stock valued at $6,743,000 after purchasing an additional 1,485,000 shares during the last quarter. Sona Asset Management US LLC bought a new stake in Ardagh Metal Packaging during the 1st quarter valued at $4,288,000. Finally, Angeles Wealth Management LLC bought a new stake in Ardagh Metal Packaging in the 4th quarter worth $1,863,000. 16.93% of the stock is currently owned by institutional investors.

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.