Millburn Ridgefield Corp Acquires Shares of 32,981 Ardagh Metal Packaging S.A. (NYSE:AMBP)

Millburn Ridgefield Corp bought a new position in Ardagh Metal Packaging S.A. (NYSE:AMBP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 32,981 shares of the company’s stock, valued at approximately $124,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Citigroup Inc. lifted its holdings in Ardagh Metal Packaging by 15,834.1% during the 3rd quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock worth $19,245,000 after purchasing an additional 5,072,769 shares in the last quarter. King Street Capital Management L.P. bought a new stake in Ardagh Metal Packaging during the 2nd quarter worth approximately $14,790,000. Squarepoint Ops LLC boosted its holdings in Ardagh Metal Packaging by 523.8% in the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock valued at $10,568,000 after purchasing an additional 2,446,997 shares during the period. Gilman Hill Asset Management LLC raised its stake in Ardagh Metal Packaging by 1.3% in the second quarter. Gilman Hill Asset Management LLC now owns 1,805,704 shares of the company’s stock valued at $6,139,000 after purchasing an additional 23,458 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Ardagh Metal Packaging by 37.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company’s stock worth $6,704,000 after buying an additional 489,146 shares in the last quarter. Institutional investors own 16.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMBP shares. Citigroup increased their target price on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Bank of America upgraded shares of Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $3.80 to $5.10 in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upgraded shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $4.25 to $5.00 in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.08.

Ardagh Metal Packaging Stock Down 1.3 %

Shares of AMBP opened at $3.72 on Wednesday. Ardagh Metal Packaging S.A. has a 52 week low of $3.16 and a 52 week high of $4.26. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. The business’s 50 day moving average price is $3.77 and its 200-day moving average price is $3.67.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 10.75%. The ex-dividend date is Thursday, December 5th. Ardagh Metal Packaging’s payout ratio is currently -333.31%.

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.