State of New Jersey Common Pension Fund D lowered its stake in shares of Ball Co. (NYSE:BALL – Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,349 shares of the company’s stock after selling 3,624 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Ball were worth $6,084,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BALL. Peterson Financial Group Inc. purchased a new position in shares of Ball during the third quarter worth approximately $30,000. Catalyst Capital Advisors LLC purchased a new position in shares of Ball during the third quarter worth approximately $47,000. Brooklyn Investment Group purchased a new position in shares of Ball during the third quarter worth approximately $66,000. Farther Finance Advisors LLC grew its position in shares of Ball by 29.1% during the third quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock worth $69,000 after acquiring an additional 228 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in shares of Ball during the fourth quarter worth approximately $76,000. Institutional investors and hedge funds own 86.51% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on BALL shares. Barclays lowered their target price on shares of Ball from $72.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley lowered their target price on shares of Ball from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Truist Financial lowered their price objective on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price objective on the stock in a research report on Tuesday, December 10th. Finally, Robert W. Baird lowered their price objective on shares of Ball from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.25.
Ball Price Performance
Shares of NYSE BALL opened at $49.90 on Wednesday. The firm has a market capitalization of $14.89 billion, a P/E ratio of 3.94, a PEG ratio of 1.22 and a beta of 0.94. Ball Co. has a one year low of $49.00 and a one year high of $71.32. The company’s fifty day moving average is $54.19 and its two-hundred day moving average is $60.23. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.82 and a current ratio of 1.00.
Ball (NYSE:BALL – Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.92 billion. Ball had a net margin of 33.98% and a return on equity of 16.17%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. Analysts forecast that Ball Co. will post 3.54 EPS 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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, March 3rd. Ball’s dividend payout ratio (DPR) is presently 6.32%.
Ball declared that its board has initiated a stock repurchase program on Wednesday, January 29th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the company to reacquire up to 24.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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.
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