1248 Management LLC acquired a new stake in shares of Ball Co. (NYSE:BALL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,118 shares of the company's stock, valued at approximately $558,000.
Other large investors have also made changes to their positions in the company. Picton Mahoney Asset Management boosted its stake in shares of Ball by 68.9% in the 4th quarter. Picton Mahoney Asset Management now owns 522 shares of the company's stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Ball by 328.4% in the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company's stock worth $37,000 after purchasing an additional 509 shares during the period. Parvin Asset Management LLC bought a new position in Ball in the fourth quarter valued at approximately $70,000. Hager Investment Management Services LLC acquired a new position in Ball during the 4th quarter worth approximately $76,000. Finally, ORG Wealth Partners LLC grew its stake in Ball by 298.9% in the fourth quarter. ORG Wealth Partners LLC now owns 1,428 shares of the company's stock valued at $79,000 after purchasing an additional 1,070 shares in the last quarter. Institutional investors own 86.51% of the company's stock.
Ball Trading Up 0.4 %
Ball stock traded up $0.20 during mid-day trading on Monday, hitting $51.86. The company's stock had a trading volume of 2,579,996 shares, compared to its average volume of 2,112,946. The company has a 50 day moving average of $50.30 and a 200-day moving average of $54.68. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market cap of $14.64 billion, a PE ratio of 4.10, a P/E/G ratio of 1.24 and a beta of 1.10. Ball Co. has a one year low of $43.51 and a one year high of $70.97.
Ball (NYSE:BALL - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.03. Ball had a net margin of 33.98% and a return on equity of 16.17%. The company had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same period last year, the business earned $0.78 EPS. Ball's revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts anticipate that Ball Co. will post 3.48 EPS for the current year.
Ball declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 29th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the company to reacquire up to 24.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
Ball Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Monday, June 2nd. Ball's dividend payout ratio is presently 6.32%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on BALL. Robert W. Baird lowered their target price on Ball from $70.00 to $63.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. UBS Group reduced their target price on Ball from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Truist Financial dropped their price objective on shares of Ball from $65.00 to $58.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Citigroup cut their target price on shares of Ball from $69.00 to $59.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $49.00 price target (down previously from $56.00) on shares of Ball in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ball presently has an average rating of "Moderate Buy" and an average target price of $59.78.
Check Out Our Latest Stock Analysis on Ball
Ball Company Profile
(
Free Report)
Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.
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