Gotham Asset Management LLC Sells 20,220 Shares of Ball Co. (NYSE:BALL)

Gotham Asset Management LLC cut its holdings in shares of Ball Co. (NYSE:BALL - Free Report) by 18.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,231 shares of the company's stock after selling 20,220 shares during the quarter. Gotham Asset Management LLC's holdings in Ball were worth $4,974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BALL. Picton Mahoney Asset Management lifted its position in Ball by 68.9% during the 4th quarter. Picton Mahoney Asset Management now owns 522 shares of the company's stock worth $29,000 after buying an additional 213 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Ball by 328.4% in the 4th quarter. Venturi Wealth Management LLC now owns 664 shares of the company's stock valued at $37,000 after purchasing an additional 509 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Ball in the 4th quarter valued at about $70,000. Hager Investment Management Services LLC bought a new stake in shares of Ball in the 4th quarter valued at about $76,000. Finally, Evermay Wealth Management LLC raised its holdings in shares of Ball by 35.1% in the 4th quarter. Evermay Wealth Management LLC now owns 1,743 shares of the company's stock valued at $96,000 after purchasing an additional 453 shares during the period. 86.51% of the stock is owned by institutional investors.

Ball Stock Performance

Shares of NYSE:BALL traded up $0.39 on Friday, reaching $53.76. 1,800,658 shares of the company's stock were exchanged, compared to its average volume of 2,141,923. The company has a fifty day moving average of $50.29 and a 200-day moving average of $53.95. Ball Co. has a twelve month low of $43.51 and a twelve month high of $70.73. The company has a market capitalization of $14.91 billion, a price-to-earnings ratio of 4.25, a PEG ratio of 1.24 and a beta of 1.10. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.90.

Ball (NYSE:BALL - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.07. Ball had a net margin of 33.98% and a return on equity of 16.17%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The business's revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Ball Co. will post 3.48 EPS for the current fiscal year.

Ball announced that its Board of Directors has authorized a share buyback program on Wednesday, January 29th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the company to reacquire up to 24.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, June 2nd. Ball's dividend payout ratio (DPR) is presently 47.62%.

Wall Street Analysts Forecast Growth

BALL has been the topic of a number of research analyst reports. Barclays dropped their target price on shares of Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a report on Wednesday. Robert W. Baird dropped their target price on shares of Ball from $70.00 to $63.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Mizuho dropped their target price on shares of Ball from $63.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Loop Capital decreased their price target on shares of Ball from $83.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Truist Financial decreased their price target on shares of Ball from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.00.

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.