Sagespring Wealth Partners LLC purchased a new stake in shares of Ball Co. (NYSE:BALL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,371 shares of the company's stock, valued at approximately $627,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management increased its holdings in Ball by 68.9% during the fourth 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 boosted its stake in 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 buying an additional 509 shares during the period. Hager Investment Management Services LLC purchased a new stake in shares of Ball during the fourth quarter valued at about $76,000. ORG Wealth Partners LLC grew its position in shares of Ball by 298.9% in the 4th quarter. ORG Wealth Partners LLC now owns 1,428 shares of the company's stock worth $79,000 after buying an additional 1,070 shares during 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 valued at $96,000 after buying an additional 453 shares in the last quarter. Institutional investors own 86.51% of the company's stock.
Ball Price Performance
NYSE:BALL traded up $0.36 during mid-day trading on Friday, hitting $47.43. 5,596,373 shares of the company's stock traded hands, compared to its average volume of 2,114,189. 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 1 year low of $43.51 and a 1 year high of $71.32. The company has a market cap of $13.39 billion, a PE ratio of 3.75, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The firm's 50 day simple moving average is $50.33 and its 200 day simple moving average is $56.01.
Ball (NYSE:BALL - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.92 billion. Ball had a return on equity of 16.17% and a net margin of 33.98%. The firm's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Sell-side analysts expect that Ball Co. will post 3.48 EPS for the current year.
Ball declared that its board has approved a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 24.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Ball Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.69%. Ball's payout ratio is currently 6.32%.
Analysts Set New Price Targets
BALL has been the subject of several research analyst reports. UBS Group reduced their price objective on Ball from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Citigroup cut 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. Morgan Stanley reduced their price objective 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. Robert W. Baird decreased their target price on Ball from $70.00 to $63.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company restated an "underweight" rating and set a $49.00 price target (down from $56.00) on shares of Ball in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ball currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.
Check Out Our Latest Stock Analysis on Ball
About Ball
(
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.
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