ING Groep NV Cuts Stock Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

ING Groep NV decreased its holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 84.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 276,000 shares of the company’s stock after selling 1,480,000 shares during the quarter. ING Groep NV’s holdings in Ardagh Metal Packaging were worth $1,041,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Ballentine Partners LLC purchased a new position in Ardagh Metal Packaging in the 3rd quarter valued at approximately $42,000. Quarry LP purchased a new position in Ardagh Metal Packaging in the second quarter valued at $45,000. nVerses Capital LLC grew its stake in Ardagh Metal Packaging by 70.4% during the 3rd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $46,000 after purchasing an additional 5,000 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Ardagh Metal Packaging by 34.5% during the 2nd quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock worth $66,000 after purchasing an additional 5,009 shares during the period. Finally, Signaturefd LLC raised its position in Ardagh Metal Packaging by 23.1% in the 3rd quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock valued at $71,000 after purchasing an additional 3,515 shares in the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

Ardagh Metal Packaging Trading Down 1.1 %

Shares of Ardagh Metal Packaging stock opened at $3.62 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. The company has a fifty day simple moving average of $3.75 and a 200-day simple moving average of $3.69. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -30.16, a PEG ratio of 0.89 and a beta of 0.62. Ardagh Metal Packaging S.A. has a 12-month low of $3.16 and a 12-month high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.31 billion during 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. Ardagh Metal Packaging’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 11.05%. The ex-dividend date of this dividend is Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is -333.31%.

Analyst Ratings Changes

AMBP has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $4.25 to $5.00 in a research note on Tuesday, October 15th. Bank of America upgraded shares of Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and raised their price objective for the company from $3.80 to $5.10 in a report on Thursday, October 17th. Finally, Citigroup boosted their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.08.

About Ardagh Metal Packaging

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.