DoubleLine ETF Adviser LP Invests $1.87 Million in Ball Co. (NYSE:BALL)

DoubleLine ETF Adviser LP purchased a new position in shares of Ball Co. (NYSE:BALL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,828 shares of the company's stock, valued at approximately $1,865,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management grew its holdings in Ball by 68.9% during the fourth quarter. Picton Mahoney Asset Management now owns 522 shares of the company's stock valued at $29,000 after purchasing an additional 213 shares during the period. Venturi Wealth Management LLC lifted its position in Ball by 328.4% during the 4th quarter. Venturi Wealth Management LLC now owns 664 shares of the company's stock worth $37,000 after buying an additional 509 shares in the last quarter. 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 fourth quarter worth $76,000. Finally, ORG Wealth Partners LLC lifted its stake in Ball by 298.9% in the 4th 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 during the last quarter. 86.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley lowered their price target on shares of Ball from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Barclays decreased their price target on Ball from $72.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Mizuho reduced their price objective on Ball from $63.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. UBS Group decreased their price objective on Ball from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $49.00 price target (down previously from $56.00) on shares of Ball in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.78.

Ball Trading Up 0.8 %

Shares of NYSE:BALL traded up $0.39 on Friday, hitting $51.61. The company had a trading volume of 2,518,058 shares, compared to its average volume of 2,110,898. Ball Co. has a 1 year low of $43.51 and a 1 year high of $70.97. The firm has a market capitalization of $14.57 billion, a price-to-earnings ratio of 4.08, a P/E/G ratio of 1.24 and a beta of 1.01. The firm's 50-day simple moving average is $50.30 and its two-hundred day simple moving average is $54.68. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

Ball (NYSE:BALL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the firm posted $0.78 EPS. Ball's revenue for the quarter was down .8% on a year-over-year basis. Equities analysts anticipate that Ball Co. will post 3.48 earnings per share for the current fiscal year.

Ball declared that its board has approved a share buyback program on Wednesday, January 29th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 24.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.55%. Ball's dividend payout ratio (DPR) is 6.32%.

Ball Profile

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.