16,360 Shares in Ball Co. (NYSE:BALL) Purchased by Broderick Brian C

Broderick Brian C acquired a new stake in shares of Ball Co. (NYSE:BALL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,360 shares of the company’s stock, valued at approximately $1,102,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hemenway Trust Co LLC purchased a new stake in Ball during the first quarter valued at approximately $6,787,000. Texas Permanent School Fund Corp raised its position in Ball by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 65,094 shares of the company’s stock valued at $4,385,000 after purchasing an additional 1,130 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in Ball by 100.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,334 shares of the company’s stock valued at $1,235,000 after purchasing an additional 9,170 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Ball during the first quarter valued at approximately $825,000. Finally, Financial Counselors Inc. raised its position in Ball by 11.2% during the first quarter. Financial Counselors Inc. now owns 8,368 shares of the company’s stock valued at $564,000 after purchasing an additional 841 shares during the period. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company cut their target price on Ball from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. Royal Bank of Canada upped their target price on Ball from $74.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Truist Financial raised Ball from a “hold” rating to a “buy” rating and upped their target price for the company from $67.00 to $76.00 in a research note on Tuesday, June 25th. Morgan Stanley began coverage on Ball in a research note on Monday, March 18th. They set an “equal weight” rating and a $68.00 target price on the stock. Finally, Citigroup dropped their price objective on Ball from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Ball presently has an average rating of “Hold” and an average target price of $69.23.

Ball Stock Up 2.0 %

NYSE BALL traded up $1.21 during midday trading on Thursday, hitting $60.50. 2,326,494 shares of the company traded hands, compared to its average volume of 1,977,160. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.21 and a quick ratio of 0.93. The company has a market cap of $18.78 billion, a PE ratio of 4.55, a price-to-earnings-growth ratio of 1.65 and a beta of 0.85. The company’s 50-day simple moving average is $65.83 and its 200-day simple moving average is $63.39. Ball Co. has a 52 week low of $42.81 and a 52 week high of $71.32.

Ball (NYSE:BALL) last announced its earnings results on Friday, April 26th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.12. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Ball had a return on equity of 21.79% and a net margin of 31.42%. The business’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. As a group, equities research analysts forecast that Ball Co. will post 3.09 earnings per share for the current year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.80 annualized dividend and a yield of 1.32%. Ball’s dividend payout ratio (DPR) is presently 6.02%.

Ball declared that its Board of Directors has initiated a share buyback program on Wednesday, April 24th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Ball

In other news, Director Pedro Henrique Mariani sold 5,000 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $69.90, for a total transaction of $349,500.00. Following the completion of the sale, the director now owns 9,844 shares in the company, valued at approximately $688,095.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.

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.