Ball Co. (NYSE:BALL) is Oakview Capital Management L.P.'s 9th Largest Position

Oakview Capital Management L.P. reduced its position in Ball Co. (NYSE:BALL - Free Report) by 60.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,304 shares of the company's stock after selling 44,877 shares during the period. Ball makes up 5.5% of Oakview Capital Management L.P.'s investment portfolio, making the stock its 9th largest holding. Oakview Capital Management L.P.'s holdings in Ball were worth $1,759,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jessup Wealth Management Inc bought a new stake in Ball during the first quarter worth $7,479,000. TD Asset Management Inc raised its holdings in shares of Ball by 4.2% in the first quarter. TD Asset Management Inc now owns 1,453,639 shares of the company's stock valued at $97,917,000 after purchasing an additional 58,863 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Ball during the first quarter valued at about $1,973,000. QRG Capital Management Inc. boosted its holdings in Ball by 306.6% during the second quarter. QRG Capital Management Inc. now owns 31,750 shares of the company's stock worth $1,906,000 after purchasing an additional 23,941 shares during the last quarter. Finally, CenterBook Partners LP bought a new stake in Ball in the 4th quarter worth about $851,000. Institutional investors and hedge funds own 86.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. UBS Group boosted their target price on Ball from $56.00 to $59.00 and gave the stock a "sell" rating in a research note on Tuesday, August 6th. Wells Fargo & Company decreased their target price on Ball from $64.00 to $61.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 17th. Morgan Stanley raised shares of Ball from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $69.00 to $78.00 in a report on Wednesday, September 4th. Robert W. Baird upgraded shares of Ball from a "neutral" rating to an "outperform" rating and set a $70.00 price objective for the company in a report on Wednesday, August 14th. Finally, Truist Financial reiterated a "buy" rating and issued a $78.00 target price (up from $76.00) on shares of Ball in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.83.

Ball Price Performance

Ball stock traded up $0.47 during midday trading on Friday, reaching $67.47. 1,560,280 shares of the stock were exchanged, compared to its average volume of 1,837,868. Ball Co. has a 52 week low of $42.81 and a 52 week high of $71.32. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.18. The firm has a market cap of $20.48 billion, a PE ratio of 5.08, a PEG ratio of 1.70 and a beta of 0.88. The company's fifty day moving average is $64.25 and its 200-day moving average is $65.21.

Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.10 billion. Ball had a return on equity of 19.45% and a net margin of 32.79%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. On average, sell-side analysts forecast that Ball Co. will post 3.12 EPS for the current year.

Ball Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Tuesday, September 3rd. Ball's dividend payout ratio is currently 6.02%.

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.