SteelPeak Wealth LLC reduced its holdings in shares of Ball Co. (NYSE:BALL - Free Report) by 53.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,844 shares of the company's stock after selling 18,482 shares during the period. SteelPeak Wealth LLC's holdings in Ball were worth $873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in shares of Ball during the third quarter valued at about $30,000. Catalyst Capital Advisors LLC acquired a new position in shares of Ball in the 3rd quarter valued at $47,000. Quarry LP raised its stake in Ball by 598.6% in the 2nd quarter. Quarry LP now owns 999 shares of the company's stock worth $60,000 after acquiring an additional 856 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Ball during the 3rd quarter worth about $66,000. Finally, Farther Finance Advisors LLC grew its stake in Ball by 29.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company's stock valued at $69,000 after purchasing an additional 228 shares during the last quarter. 86.51% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on BALL shares. Mizuho upgraded Ball from a "neutral" rating to an "outperform" rating and set a $67.00 target price on the stock in a research report on Tuesday, December 10th. Truist Financial decreased their target price on shares of Ball from $78.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company reaffirmed 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. Morgan Stanley reduced their price target on Ball from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $75.00 price objective on shares of Ball in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.17.
Get Our Latest Stock Analysis on Ball
Ball Price Performance
BALL stock traded up $0.90 during midday trading on Thursday, reaching $56.23. The stock had a trading volume of 3,694,418 shares, compared to its average volume of 2,395,896. Ball Co. has a 52-week low of $51.96 and a 52-week high of $71.32. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 4.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93. The company's fifty day simple moving average is $56.77 and its 200 day simple moving average is $61.33. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79.
Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.13 billion. Ball had a return on equity of 17.46% and a net margin of 34.05%. The business's revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 earnings per share. As a group, sell-side analysts predict that Ball Co. will post 3.15 earnings per share for the current fiscal year.
Ball Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. Ball's payout ratio is 6.03%.
Ball announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the company to purchase up to 24.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.
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.
Further Reading
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