First Trust Direct Indexing L.P. Buys 7,620 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Posted by Defense World Staff on Sep 28th, 2023

First Trust Direct Indexing L.P. lifted its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP – Free Report) by 64.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 19,449 shares of the company’s stock after acquiring an additional 7,620 shares during the period. First Trust Direct Indexing L.P.’s holdings in Ardagh Metal Packaging were worth $73,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMBP. UBS Group AG raised its position in Ardagh Metal Packaging by 43.1% during the second quarter. UBS Group AG now owns 6,028 shares of the company’s stock valued at $37,000 after purchasing an additional 1,815 shares in the last quarter. Signaturefd LLC lifted its position in Ardagh Metal Packaging by 615.5% in the 1st quarter. Signaturefd LLC now owns 7,327 shares of the company’s stock worth $30,000 after buying an additional 6,303 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Ardagh Metal Packaging by 2,026.7% in the fourth quarter. JPMorgan Chase & Co. now owns 8,443 shares of the company’s stock worth $41,000 after buying an additional 8,046 shares in the last quarter. Spire Wealth Management grew its position in Ardagh Metal Packaging by 47.2% during the first quarter. Spire Wealth Management now owns 9,710 shares of the company’s stock valued at $40,000 after acquiring an additional 3,115 shares during the last quarter. Finally, Xponance Inc. purchased a new position in shares of Ardagh Metal Packaging during the first quarter worth approximately $41,000. 17.33% of the stock is currently owned by hedge funds and other institutional investors.

Ardagh Metal Packaging Trading Up 2.4 %

NYSE AMBP opened at $3.18 on Thursday. The firm has a market capitalization of $1.90 billion, a PE ratio of 39.69, a P/E/G ratio of 4.03 and a beta of 0.68. The stock’s 50 day moving average is $3.49 and its 200 day moving average is $3.65. Ardagh Metal Packaging S.A. has a twelve month low of $3.05 and a twelve month high of $5.90. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 13.04.

Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Ardagh Metal Packaging had a return on equity of 29.71% and a net margin of 1.49%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. Research analysts forecast that Ardagh Metal Packaging S.A. will post 0.19 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a $0.10 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 12.60%. Ardagh Metal Packaging’s dividend payout ratio is currently 500.06%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMBP. Bank of America cut shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $4.00 in a research note on Monday, July 10th. Barclays reduced their price objective on Ardagh Metal Packaging from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, July 31st. Finally, Credit Suisse Group increased their target price on Ardagh Metal Packaging from $6.50 to $8.00 in a report on Friday, July 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.33.

View Our Latest Stock Analysis on AMBP

Ardagh Metal Packaging Profile

(Free Report)

Ardagh Metal Packaging SA, together with its subsidiaries, supplies 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.