Sterling Capital Management LLC Buys Shares of 140,077 Ardagh Group SA (NYSE:ARD)

Sterling Capital Management LLC bought a new stake in Ardagh Group SA (NYSE:ARD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 140,077 shares of the company’s stock, valued at approximately $2,451,000. Sterling Capital Management LLC owned approximately 0.75% of Ardagh Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Machina Capital S.A.S. bought a new stake in Ardagh Group in the 2nd quarter valued at approximately $76,000. Calamos Advisors LLC bought a new stake in Ardagh Group in the 2nd quarter valued at approximately $201,000. HighTower Advisors LLC bought a new stake in Ardagh Group in the 2nd quarter valued at approximately $260,000. Gabelli Funds LLC lifted its stake in Ardagh Group by 54.5% in the 2nd quarter. Gabelli Funds LLC now owns 15,586 shares of the company’s stock valued at $273,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Barings LLC bought a new stake in Ardagh Group in the 1st quarter valued at approximately $228,000. Hedge funds and other institutional investors own 85.38% of the company’s stock.

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut Ardagh Group from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $15.00 to $17.00 in a research note on Wednesday, July 17th. Citigroup upped their price objective on Ardagh Group from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Zacks Investment Research upgraded Ardagh Group from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. Finally, ValuEngine cut Ardagh Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Ardagh Group currently has an average rating of “Hold” and a consensus target price of $18.22.

Shares of Ardagh Group stock traded down $0.72 on Thursday, reaching $16.13. 39,979 shares of the company were exchanged, compared to its average volume of 61,912. Ardagh Group SA has a one year low of $10.09 and a one year high of $20.00. The company has a market capitalization of $314.08 million, a price-to-earnings ratio of 9.54, a PEG ratio of 1.52 and a beta of 1.21. The company has a 50-day moving average of $17.13 and a 200 day moving average of $15.47.

Ardagh Group (NYSE:ARD) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Ardagh Group had a negative return on equity of 26.87% and a negative net margin of 0.61%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company earned $0.51 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts anticipate that Ardagh Group SA will post 1.66 EPS for the current year.

The business also recently disclosed a dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, August 15th.

Ardagh Group Company Profile

Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.

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Institutional Ownership by Quarter for Ardagh Group (NYSE:ARD)

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