Essex Financial Services Inc. Acquires 23,682 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Essex Financial Services Inc. lifted its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 22.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,372 shares of the company’s stock after purchasing an additional 23,682 shares during the period. Essex Financial Services Inc.’s holdings in Ardagh Metal Packaging were worth $497,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AMBP. Bank of New York Mellon Corp grew its holdings in Ardagh Metal Packaging by 4.4% during the third quarter. Bank of New York Mellon Corp now owns 298,229 shares of the company’s stock valued at $933,000 after purchasing an additional 12,663 shares during the period. Brown Advisory Inc. bought a new stake in shares of Ardagh Metal Packaging in the 3rd quarter valued at $63,000. Nordwand Advisors LLC raised its stake in Ardagh Metal Packaging by 1.0% during the 3rd quarter. Nordwand Advisors LLC now owns 1,439,893 shares of the company’s stock worth $4,507,000 after buying an additional 13,700 shares during the period. Private Management Group Inc. raised its stake in Ardagh Metal Packaging by 1.3% during the 3rd quarter. Private Management Group Inc. now owns 5,171,319 shares of the company’s stock worth $16,186,000 after buying an additional 67,860 shares during the period. Finally, Platinum Investment Management Ltd. acquired a new position in Ardagh Metal Packaging in the third quarter valued at about $85,000. 16.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMBP has been the topic of a number of research analyst reports. Barclays lowered Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price target on the stock. in a research report on Monday, January 8th. Bank of America lowered shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and cut their price target for the company from $4.10 to $3.50 in a research note on Monday, April 1st. Morgan Stanley initiated coverage on shares of Ardagh Metal Packaging in a research report on Monday, March 18th. They set an “underweight” rating and a $3.20 price objective for the company. Wells Fargo & Company raised their price objective on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $3.00 target price (down from $4.00) on shares of Ardagh Metal Packaging in a research note on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Ardagh Metal Packaging has a consensus rating of “Hold” and an average target price of $4.31.

Ardagh Metal Packaging Stock Down 0.8 %

NYSE AMBP opened at $3.94 on Friday. The firm’s 50 day moving average is $3.49 and its 200-day moving average is $3.60. The company has a current ratio of 0.95, a quick ratio of 0.58 and a debt-to-equity ratio of 124.21. Ardagh Metal Packaging S.A. has a 12-month low of $2.57 and a 12-month high of $4.17.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 55.91%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business earned $0.01 EPS. The company’s revenue was up .9% compared to the same quarter last year. Equities research analysts predict that Ardagh Metal Packaging S.A. will post 0.17 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $0.40 annualized dividend and a yield of 10.15%. Ardagh Metal Packaging’s payout ratio is presently -285.69%.

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.