Intech Investment Management LLC bought a new stake in Ball Co. (NYSE:BALL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,768 shares of the company's stock, valued at approximately $980,000.
Several other institutional investors also recently made changes to their positions in BALL. RD Lewis Holdings Inc. acquired a new position in Ball during the 4th quarter valued at approximately $277,000. Tocqueville Asset Management L.P. grew its position in shares of Ball by 4.7% during the fourth quarter. Tocqueville Asset Management L.P. now owns 46,815 shares of the company's stock worth $2,581,000 after acquiring an additional 2,120 shares during the last quarter. Cibc World Markets Corp lifted its position in Ball by 289.1% in the 4th quarter. Cibc World Markets Corp now owns 161,908 shares of the company's stock valued at $8,926,000 after purchasing an additional 120,300 shares during the last quarter. Natixis Advisors LLC boosted its stake in Ball by 23.6% during the 4th quarter. Natixis Advisors LLC now owns 267,459 shares of the company's stock valued at $14,745,000 after purchasing an additional 51,121 shares during the period. Finally, Catalyst Funds Management Pty Ltd grew its position in Ball by 183.3% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 5,100 shares of the company's stock worth $281,000 after purchasing an additional 3,300 shares during the last quarter. 86.51% of the stock is owned by institutional investors.
Ball Trading Up 1.9 %
NYSE BALL traded up $0.96 on Wednesday, hitting $51.34. 1,965,308 shares of the stock were exchanged, compared to its average volume of 1,957,805. The company's 50-day moving average price is $52.34 and its two-hundred day moving average price is $58.16. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 4.06, a P/E/G ratio of 1.24 and a beta of 0.99. Ball Co. has a 52-week low of $48.95 and a 52-week high of $71.32. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 0.69.
Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. Ball had a return on equity of 16.17% and a net margin of 33.98%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. Ball's quarterly revenue was down .8% on a year-over-year basis. Research 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 program on Wednesday, January 29th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 24.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.
Ball Announces Dividend
The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Monday, March 3rd. Ball's payout ratio is presently 6.32%.
Wall Street Analysts Forecast Growth
BALL has been the subject of a number of analyst reports. UBS Group reduced their price target on Ball from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Citigroup decreased their price target on Ball from $69.00 to $59.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company reissued an "underweight" rating and issued a $49.00 price objective (down previously from $56.00) on shares of Ball in a research note on Thursday, January 16th. Truist Financial decreased their target price on Ball from $78.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, January 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 report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.30.
Check Out Our Latest Report on Ball
Ball Profile
(
Free Report)
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.
See Also
Before you consider Ball, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ball wasn't on the list.
While Ball currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
