SteelPeak Wealth LLC Acquires 27,948 Shares of Ball Corporation (NYSE:BALL)

SteelPeak Wealth LLC lifted its holdings in shares of Ball Corporation (NYSE:BALL - Free Report) by 176.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,792 shares of the company's stock after purchasing an additional 27,948 shares during the quarter. SteelPeak Wealth LLC's holdings in Ball were worth $2,280,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BALL. Franklin Resources Inc. increased its stake in Ball by 11.6% in the fourth quarter. Franklin Resources Inc. now owns 7,758,604 shares of the company's stock valued at $427,732,000 after acquiring an additional 803,728 shares during the last quarter. Invesco Ltd. increased its stake in Ball by 25.3% in the fourth quarter. Invesco Ltd. now owns 4,159,436 shares of the company's stock valued at $229,310,000 after acquiring an additional 840,357 shares during the last quarter. Norges Bank bought a new position in Ball in the fourth quarter valued at approximately $190,105,000. Dimensional Fund Advisors LP increased its stake in Ball by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,055,441 shares of the company's stock valued at $168,447,000 after acquiring an additional 367,798 shares during the last quarter. Finally, London Co. of Virginia increased its stake in Ball by 61.1% in the fourth quarter. London Co. of Virginia now owns 3,054,393 shares of the company's stock valued at $168,389,000 after acquiring an additional 1,158,668 shares during the last quarter. 86.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Ball from $44.00 to $50.00 and gave the company an "underweight" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada boosted their target price on shares of Ball from $62.00 to $63.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Mizuho decreased their target price on shares of Ball from $63.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Truist Financial boosted their target price on shares of Ball from $62.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday. Finally, UBS Group boosted their target price on shares of Ball from $54.00 to $60.00 and gave the stock a "neutral" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $63.36.

Ball Price Performance

Shares of NYSE:BALL opened at $58.30 on Friday. The firm has a market cap of $16.17 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm's fifty day moving average is $54.83 and its 200-day moving average is $52.77. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.04. Ball Corporation has a 52 week low of $43.51 and a 52 week high of $68.12.

Ball (NYSE:BALL - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.91 billion. Ball had a net margin of 4.18% and a return on equity of 15.41%. Ball's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. Sell-side analysts predict that Ball Corporation will post 3.48 earnings per share for the current year.

Ball Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.37%. Ball's payout ratio is 47.62%.

Ball Company 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.

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