Solas Capital Management LLC Has $10.12 Million Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Solas Capital Management LLC boosted its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 10.9% during the fourth quarter, Holdings Channel reports. The fund owned 3,361,378 shares of the company’s stock after acquiring an additional 330,000 shares during the period. Ardagh Metal Packaging makes up approximately 6.7% of Solas Capital Management LLC’s holdings, making the stock its 8th biggest holding. Solas Capital Management LLC’s holdings in Ardagh Metal Packaging were worth $10,118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new position in shares of Ardagh Metal Packaging during the fourth quarter worth approximately $30,000. Tower Research Capital LLC TRC raised its position in Ardagh Metal Packaging by 292.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the company’s stock worth $33,000 after purchasing an additional 8,180 shares during the last quarter. Cibc World Markets Corp acquired a new position in Ardagh Metal Packaging during the 4th quarter worth $41,000. Xponance Inc. bought a new position in Ardagh Metal Packaging in the 4th quarter valued at $41,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Ardagh Metal Packaging in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

Ardagh Metal Packaging Stock Up 4.7 %

Shares of AMBP opened at $3.77 on Friday. The company has a 50 day moving average of $2.85 and a 200-day moving average of $3.13. Ardagh Metal Packaging S.A. has a twelve month low of $2.50 and a twelve month high of $4.26. The stock has a market capitalization of $2.25 billion, a P/E ratio of -31.41, a P/E/G ratio of 0.54 and a beta of 0.54.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.17 billion. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. On average, sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 10.61%. The ex-dividend date of this dividend is Monday, May 5th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -1,000.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMBP. Citigroup cut their price target on 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 raised Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $3.60 to $3.10 in a research note on Monday, January 13th. Wells Fargo & Company reissued an “equal weight” rating and set a $3.35 price target (down from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday, January 16th. Finally, UBS Group lowered their price target on Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Ardagh Metal Packaging currently has a consensus rating of “Hold” and a consensus price target of $3.44.

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.