17,648 Shares in Ball Corporation $BALL Purchased by Redwood Investment Management LLC

Key Points

• Redwood Investment Management acquired 17,648 shares of Ball Corporation worth approximately $1.04 million, while institutional investors collectively own 86.51% of the company.
• Analysts maintain a positive outlook, with 10 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $70.85.
• Ball exceeded quarterly expectations with $0.94 in EPS and $3.60 billion in revenue, up 16.3% year over year, and announced a quarterly dividend of $0.20 per share.

Redwood Investment Management LLC acquired a new stake in Ball Corporation (NYSE:BALL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,648 shares of the company's stock, valued at approximately $1,043,000.

Several other hedge funds have also recently added to or reduced their stakes in BALL. Meridian Wealth Management LLC grew its position in shares of Ball by 2.7% in the fourth quarter. Meridian Wealth Management LLC now owns 6,295 shares of the company's stock valued at $333,000 after purchasing an additional 165 shares during the last quarter. Western Wealth Management LLC raised its position in shares of Ball by 3.2% during the 4th quarter. Western Wealth Management LLC now owns 6,752 shares of the company's stock worth $358,000 after purchasing an additional 208 shares during the last quarter. Parvin Asset Management LLC lifted its stake in Ball by 19.5% in the 1st quarter. Parvin Asset Management LLC now owns 1,315 shares of the company's stock valued at $78,000 after buying an additional 215 shares in the last quarter. Evelyn Partners Investment Management LLP lifted its stake in Ball by 11.3% in the 1st quarter. Evelyn Partners Investment Management LLP now owns 2,144 shares of the company's stock valued at $127,000 after buying an additional 218 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in Ball by 44.1% during the 4th quarter. Harbour Investments Inc. now owns 725 shares of the company's stock valued at $38,000 after buying an additional 222 shares during the last quarter. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup dropped their price target on Ball from $73.00 to $72.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Bank of America upped their price objective on Ball from $70.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Raymond James Financial set a $73.00 price objective on Ball and gave the company an "outperform" rating in a research note on Tuesday, April 21st. Royal Bank Of Canada lifted their price objective on Ball from $75.00 to $77.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised shares of Ball from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.85.

Ball Stock Performance

NYSE:BALL opened at $65.19 on Tuesday. The company has a market cap of $17.36 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.28 and a beta of 0.98. The firm's 50 day moving average is $59.85 and its two-hundred day moving average is $60.60. Ball Corporation has a fifty-two week low of $44.83 and a fifty-two week high of $68.29. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 1.25.

Ball (NYSE:BALL - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.09. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.34 billion. Ball had a return on equity of 18.69% and a net margin of 6.86%.The business's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 EPS. Analysts expect that Ball Corporation will post 3.99 EPS for the current year.

Ball Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Ball's payout ratio is currently 23.12%.

About Ball

Ball Corporation is a leading provider of sustainable aluminum packaging solutions and advanced aerospace technologies. Headquartered in Broomfield, Colorado, the company serves customers in the beverage, food and aerosol markets through a global network of manufacturing facilities. With an emphasis on sustainability and innovation, Ball designs and produces metal cans, bottles and ends that support recycling and reduce environmental impact.

The company's packaging segment specializes in beverage cans for soft drinks, beer and energy drinks, as well as metal packaging for food and personal care applications.

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