Broyhill Asset Management Invests $3.33 Million in Ball Co. (NYSE:BALL)

Broyhill Asset Management bought a new stake in Ball Co. (NYSE:BALL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 60,480 shares of the company's stock, valued at approximately $3,334,000. Ball accounts for about 3.0% of Broyhill Asset Management's investment portfolio, making the stock its 12th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its position in Ball by 68.9% in the 4th quarter. Picton Mahoney Asset Management now owns 522 shares of the company's stock valued at $29,000 after buying an additional 213 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Ball by 328.4% during the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company's stock worth $37,000 after acquiring an additional 509 shares during the period. Hager Investment Management Services LLC purchased a new position in Ball during the fourth quarter worth about $76,000. ORG Wealth Partners LLC boosted its holdings 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 in the last quarter. Finally, Evermay Wealth Management LLC increased its position in Ball by 35.1% during the 4th quarter. Evermay Wealth Management LLC now owns 1,743 shares of the company's stock worth $96,000 after purchasing an additional 453 shares during the period. Hedge funds and other institutional investors own 86.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank of Canada reduced their price objective 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. Truist Financial decreased their price objective on Ball from $78.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Morgan Stanley reduced their target price 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. Robert W. Baird decreased their price target on shares of Ball from $70.00 to $63.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup cut their price objective on shares of Ball from $69.00 to $59.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ball currently has an average rating of "Moderate Buy" and an average target price of $62.30.

Ball Trading Up 0.8 %

Shares of NYSE BALL traded up $0.36 during trading on Friday, hitting $47.43. 5,596,373 shares of the company traded hands, compared to its average volume of 2,116,731. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $13.39 billion, a P/E ratio of 3.75, a P/E/G ratio of 1.24 and a beta of 1.01. The company has a 50-day moving average price of $50.27 and a 200-day moving average price of $55.87. Ball Co. has a 1 year low of $43.51 and a 1 year high of $71.32.

Ball (NYSE:BALL - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The company's revenue was down .8% on a year-over-year basis. On average, equities analysts predict that Ball Co. will post 3.48 EPS for the current year.

Ball declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the company to repurchase up to 24.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Ball Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, March 3rd. Ball's dividend payout ratio (DPR) is presently 6.32%.

About Ball

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.