AMF Tjanstepension AB Sells 19,530 Shares of Ball Co. (NYSE:BALL)

AMF Tjanstepension AB lowered its holdings in Ball Co. (NYSE:BALL - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,018 shares of the company's stock after selling 19,530 shares during the period. AMF Tjanstepension AB's holdings in Ball were worth $6,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in Ball during the third quarter valued at approximately $30,000. Venturi Wealth Management LLC grew its stake in Ball by 328.4% during the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company's stock valued at $37,000 after acquiring an additional 509 shares in the last quarter. Brooklyn Investment Group purchased a new position in Ball during the third quarter valued at approximately $66,000. Farther Finance Advisors LLC grew its stake in Ball by 29.1% during the third quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company's stock valued at $69,000 after acquiring an additional 228 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in Ball during the fourth quarter valued at approximately $76,000. Institutional investors own 86.51% of the company's stock.

Ball Trading Up 4.2 %

Shares of BALL opened at $54.35 on Friday. The firm has a market cap of $15.37 billion, a price-to-earnings ratio of 4.29, a PEG ratio of 1.24 and a beta of 0.99. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.69 and a current ratio of 1.00. Ball Co. has a fifty-two week low of $48.95 and a fifty-two week high of $71.32. The firm has a 50 day moving average price of $52.90 and a 200-day moving average price of $59.23.

Remove Ads

Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, beating 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 analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $0.78 EPS. The firm's revenue was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that Ball Co. will post 3.48 earnings per share for the current year.

Ball announced that its board has approved a share buyback plan on Wednesday, January 29th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the company to repurchase up to 24.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. Ball's dividend payout ratio is currently 6.32%.

Analyst Ratings Changes

BALL has been the subject of a number of research reports. Truist Financial cut their price target on shares of Ball from $78.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Morgan Stanley cut their price target on shares of Ball from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Citigroup cut their price target on shares of Ball from $69.00 to $59.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Royal Bank of Canada cut their price target on shares of Ball from $75.00 to $66.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Finally, Mizuho raised shares of Ball from a "neutral" rating to an "outperform" rating and set a $67.00 price target for the company in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ball presently has an average rating of "Moderate Buy" and an average price target of $64.64.

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.

Want to see what other hedge funds are holding BALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ball Co. (NYSE:BALL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.