Monarch Alternative Capital LP Sells 2,394,262 Shares of Ardagh Metal Packaging S.A. $AMBP

Monarch Alternative Capital LP reduced its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 44.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,955,738 shares of the company’s stock after selling 2,394,262 shares during the quarter. Ardagh Metal Packaging comprises 0.7% of Monarch Alternative Capital LP’s holdings, making the stock its 6th largest position. Monarch Alternative Capital LP’s holdings in Ardagh Metal Packaging were worth $11,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in shares of Ardagh Metal Packaging during the fourth quarter worth approximately $33,000. Pallas Capital Advisors LLC acquired a new position in shares of Ardagh Metal Packaging in the fourth quarter valued at approximately $42,000. Abel Hall LLC bought a new position in shares of Ardagh Metal Packaging during the first quarter worth approximately $42,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Ardagh Metal Packaging during the first quarter worth approximately $43,000. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in Ardagh Metal Packaging during the 1st quarter worth approximately $44,000. 16.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wall Street Zen raised Ardagh Metal Packaging from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company lifted their target price on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Citigroup reissued a “buy” rating on shares of Ardagh Metal Packaging in a research report on Friday. UBS Group raised their price target on shares of Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Weiss Ratings upgraded shares of Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.86.

Ardagh Metal Packaging Price Performance

Shares of NYSE:AMBP opened at $4.84 on Tuesday. The company has a market capitalization of $2.89 billion, a P/E ratio of 80.63, a P/E/G ratio of 0.99 and a beta of 0.51. Ardagh Metal Packaging S.A. has a 1 year low of $3.29 and a 1 year high of $5.43. The business’s 50 day simple moving average is $4.38 and its 200 day simple moving average is $4.33.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.57 billion. Ardagh Metal Packaging had a negative return on equity of 27.93% and a net margin of 0.68%.The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS. On average, sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.26 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend is Thursday, September 10th. Ardagh Metal Packaging’s dividend payout ratio is 666.67%.

About Ardagh Metal Packaging

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.