1832 Asset Management L.P. Sells 714,408 Shares of Ball Co. (NYSE:BALL)

1832 Asset Management L.P. decreased its holdings in shares of Ball Co. (NYSE:BALL) by 43.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 937,991 shares of the company’s stock after selling 714,408 shares during the period. 1832 Asset Management L.P. owned 0.30% of Ball worth $63,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Friedenthal Financial purchased a new position in shares of Ball during the 4th quarter worth approximately $43,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Ball during the 4th quarter worth approximately $43,000. NBC Securities Inc. grew its holdings in shares of Ball by 31.0% during the 4th quarter. NBC Securities Inc. now owns 769 shares of the company’s stock worth $44,000 after acquiring an additional 182 shares during the period. Independence Bank of Kentucky purchased a new position in shares of Ball during the 1st quarter worth approximately $47,000. Finally, Manchester Capital Management LLC grew its holdings in shares of Ball by 2,341.5% during the 4th quarter. Manchester Capital Management LLC now owns 1,001 shares of the company’s stock worth $58,000 after acquiring an additional 960 shares during the period. Institutional investors own 86.51% of the company’s stock.

Insider Activity

In other news, Director Pedro Henrique Mariani sold 5,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $69.90, for a total value of $349,500.00. Following the transaction, the director now directly owns 9,844 shares in the company, valued at $688,095.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.81% of the company’s stock.

Ball Stock Performance

NYSE BALL traded up $1.20 on Friday, hitting $63.25. 1,155,070 shares of the company traded hands, compared to its average volume of 1,673,879. The company has a market capitalization of $19.63 billion, a price-to-earnings ratio of 4.76, a P/E/G ratio of 1.71 and a beta of 0.85. The company has a current ratio of 1.21, a quick ratio of 0.93 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average price is $64.12 and its 200-day moving average price is $63.79. Ball Co. has a 52-week low of $42.81 and a 52-week high of $71.32.

Ball (NYSE:BALL) last released its earnings results on Friday, April 26th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $3.23 billion. Ball had a return on equity of 21.79% and a net margin of 31.42%. Ball’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. Equities analysts expect that Ball Co. will post 3.09 earnings per share for the current year.

Ball announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 24th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Ball Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. Ball’s payout ratio is 6.02%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BALL shares. JPMorgan Chase & Co. upped their price target on Ball from $59.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Mizuho upped their price target on Ball from $63.00 to $69.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. UBS Group cut their price target on Ball from $57.00 to $56.00 and set a “sell” rating on the stock in a research note on Wednesday, July 17th. Truist Financial upgraded Ball from a “hold” rating to a “buy” rating and upped their price target for the stock from $67.00 to $76.00 in a research note on Tuesday, June 25th. Finally, Citigroup cut their price target on Ball from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.08.

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.