Sawgrass Asset Management LLC trimmed its position in Ball Co. (NYSE:BALL – Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,122 shares of the company’s stock after selling 1,252 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Ball were worth $999,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Peterson Financial Group Inc. acquired a new stake in Ball in the third quarter valued at about $30,000. Catalyst Capital Advisors LLC acquired a new stake in Ball in the third quarter valued at about $47,000. Brooklyn Investment Group acquired a new stake in Ball in the third quarter valued at about $66,000. Farther Finance Advisors LLC boosted its stake in Ball by 29.1% in the third quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock valued at $69,000 after buying an additional 228 shares in the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Ball in the fourth quarter valued at about $76,000. 86.51% of the stock is currently owned by institutional investors.
Ball Trading Down 1.5 %
BALL opened at $49.59 on Thursday. The business has a 50 day simple moving average of $54.80 and a two-hundred day simple moving average of $60.66. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 3.92, a PEG ratio of 1.22 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 0.82. Ball Co. has a one year low of $49.03 and a one year high of $71.32.
Ball announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 29th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 24.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Ball Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Monday, March 3rd. Ball’s dividend payout ratio (DPR) is presently 6.32%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on BALL shares. Mizuho raised Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target on the stock in a research note on Tuesday, December 10th. Citigroup cut their price target on Ball from $69.00 to $59.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. UBS Group raised Ball from a “sell” rating to a “neutral” rating and cut their price target for the company from $62.00 to $58.00 in a research note on Friday, January 10th. Royal Bank of Canada lowered their price objective on Ball from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, Robert W. Baird lowered their price objective on Ball from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.
Get Our Latest Research Report on Ball
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.
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