CenterBook Partners LP Has $1.59 Million Stock Position in Ball Co. (NYSE:BALL)

CenterBook Partners LP trimmed its holdings in Ball Co. (NYSE:BALL - Free Report) by 45.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,876 shares of the company's stock after selling 24,187 shares during the quarter. CenterBook Partners LP's holdings in Ball were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of BALL. APG Asset Management N.V. raised its holdings in Ball by 431.9% during the 4th quarter. APG Asset Management N.V. now owns 203,200 shares of the company's stock worth $10,818,000 after purchasing an additional 165,000 shares during the last quarter. Nixon Capital LLC acquired a new stake in shares of Ball during the 4th quarter worth about $956,000. Invesco Ltd. grew its position in shares of Ball by 25.3% during the 4th quarter. Invesco Ltd. now owns 4,159,436 shares of the company's stock worth $229,310,000 after purchasing an additional 840,357 shares in the last quarter. Polymer Capital Management US LLC bought a new position in Ball in the 4th quarter valued at about $893,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in Ball by 9.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 7,406 shares of the company's stock valued at $408,000 after purchasing an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 86.51% of the company's stock.

Ball Trading Up 0.1 %

BALL stock traded up $0.07 during midday trading on Wednesday, reaching $47.67. 244,543 shares of the company's stock traded hands, compared to its average volume of 2,703,607. The business has a 50-day moving average price of $50.46 and a two-hundred day moving average price of $56.21. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market capitalization of $13.46 billion, a P/E ratio of 3.77, a PEG ratio of 1.24 and a beta of 1.01. Ball Co. has a fifty-two week low of $43.51 and a fifty-two week high of $71.32.

Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings data 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 firm earned $0.78 earnings per share. The business's quarterly revenue was down .8% on a year-over-year basis. Equities research analysts forecast that Ball Co. will post 3.48 EPS for the current fiscal year.

Ball declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 29th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the company to purchase up to 24.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.

Ball Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Monday, March 3rd. Ball's dividend payout ratio is presently 6.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada decreased their target price on shares of Ball from $75.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Truist Financial cut their price objective 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. Barclays decreased their price objective on shares of Ball from $72.00 to $61.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Robert W. Baird reduced their price objective on shares of Ball from $70.00 to $63.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Finally, Morgan Stanley cut their target price on shares of Ball from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.

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.