Ardagh Metal Packaging (NYSE:AMBP) Sees Strong Trading Volume – Still a Buy?

Ardagh Metal Packaging S.A. (NYSE:AMBP) shares saw an uptick in trading volume on Wednesday . 1,686,086 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 1,357,546 shares.The stock last traded at $4.0150 and had previously closed at $3.97.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMBP. Citigroup reduced their target price on shares of Ardagh Metal Packaging from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Weiss Ratings raised shares of Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Wells Fargo & Company cut their price target on shares of Ardagh Metal Packaging from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, March 20th. Finally, UBS Group cut their price target on shares of Ardagh Metal Packaging from $4.75 to $4.25 and set a “neutral” rating on the stock in a research report on Friday, April 10th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.51.

Ardagh Metal Packaging Stock Performance

The firm’s 50-day simple moving average is $4.05 and its 200 day simple moving average is $4.14. The stock has a market capitalization of $2.43 billion, a P/E ratio of 16.71, a PEG ratio of 0.86 and a beta of 0.54.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $1.50 billion for the quarter. Ardagh Metal Packaging had a net margin of 0.19% and a negative return on equity of 31.14%. As a group, research analysts expect that Ardagh Metal Packaging S.A. will post 0.25 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be paid a $0.10 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.40 dividend on an annualized basis and a yield of 9.9%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AMBP. Arini Captial Management Ltd acquired a new position in shares of Ardagh Metal Packaging during the 4th quarter worth approximately $46,109,000. Weiss Asset Management LP grew its position in shares of Ardagh Metal Packaging by 11,276.2% during the 1st quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company’s stock worth $18,291,000 after purchasing an additional 4,476,638 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Ardagh Metal Packaging by 603.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,357,953 shares of the company’s stock worth $9,408,000 after purchasing an additional 2,022,889 shares in the last quarter. Barclays PLC grew its position in shares of Ardagh Metal Packaging by 242.7% during the 3rd quarter. Barclays PLC now owns 1,834,361 shares of the company’s stock worth $7,319,000 after purchasing an additional 1,299,132 shares in the last quarter. Finally, Monarch Alternative Capital LP acquired a new position in shares of Ardagh Metal Packaging during the 3rd quarter worth approximately $3,890,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

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.