Ball Co. (NYSE:BALL) Shares Sold by Advisors Capital Management LLC

Advisors Capital Management LLC cut its holdings in shares of Ball Co. (NYSE:BALL) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,726 shares of the company’s stock after selling 3,579 shares during the quarter. Advisors Capital Management LLC’s holdings in Ball were worth $3,072,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Park Avenue Securities LLC grew its stake in Ball by 2.1% during the 4th quarter. Park Avenue Securities LLC now owns 10,082 shares of the company’s stock worth $556,000 after purchasing an additional 210 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of Ball by 68.9% during the fourth quarter. Picton Mahoney Asset Management now owns 522 shares of the company’s stock worth $29,000 after buying an additional 213 shares during the period. Jag Capital Management LLC raised its holdings in Ball by 1.0% in the fourth quarter. Jag Capital Management LLC now owns 26,729 shares of the company’s stock valued at $1,474,000 after acquiring an additional 271 shares in the last quarter. Crumly & Associates Inc. lifted its stake in Ball by 3.3% in the fourth quarter. Crumly & Associates Inc. now owns 9,050 shares of the company’s stock worth $499,000 after acquiring an additional 293 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Ball by 14.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,631 shares of the company’s stock worth $145,000 after acquiring an additional 337 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BALL. Citigroup decreased their price objective on shares of Ball from $69.00 to $59.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Truist Financial lowered their price target on Ball from $78.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group reduced their price objective on shares of Ball from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Royal Bank of Canada cut their price target on shares of Ball from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, Robert W. Baird dropped their price objective on Ball from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.20.

Ball Trading Up 1.5 %

NYSE:BALL opened at $48.81 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.90. The stock’s 50 day simple moving average is $50.53 and its 200-day simple moving average is $56.27. Ball Co. has a 12-month low of $43.51 and a 12-month high of $71.32. The firm has a market cap of $13.78 billion, a P/E ratio of 3.86, a PEG ratio of 1.24 and a beta of 1.01.

Ball (NYSE:BALL) last released 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. Ball had a net margin of 33.98% and a return on equity of 16.17%. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the business earned $0.78 EPS. The business’s revenue was down .8% on a year-over-year basis. Equities analysts anticipate that Ball Co. will post 3.48 EPS for the current year.

Ball Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Monday, March 3rd. Ball’s payout ratio is 6.32%.

Ball declared that its Board of Directors has authorized a share buyback program on Wednesday, January 29th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 24.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Ball

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.