SteelPeak Wealth LLC Decreases Stock Holdings in Ball Co. (NYSE:BALL)

SteelPeak Wealth LLC lowered its stake in Ball Co. (NYSE:BALL) by 53.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,844 shares of the company’s stock after selling 18,482 shares during the quarter. SteelPeak Wealth LLC’s holdings in Ball were worth $873,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BALL. Marshall Wace LLP bought a new stake in shares of Ball in the second quarter worth $234,000. Creative Planning boosted its position in Ball by 8.2% in the second quarter. Creative Planning now owns 19,148 shares of the company’s stock worth $1,149,000 after purchasing an additional 1,459 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Ball by 8.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 75,660 shares of the company’s stock valued at $4,542,000 after purchasing an additional 5,745 shares during the period. Quarry LP increased its position in shares of Ball by 598.6% during the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after purchasing an additional 856 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Ball in the 2nd quarter worth approximately $3,857,000. Institutional investors own 86.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of Ball from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reissued an “underweight” rating and set a $49.00 price objective (down previously from $56.00) on shares of Ball in a research report on Thursday, January 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Ball in a report on Monday, November 4th. Truist Financial cut 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. Finally, Mizuho raised Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price objective on the stock in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Ball currently has an average rating of “Moderate Buy” and a consensus price target of $68.17.

Ball Trading Down 0.4 %

BALL stock opened at $55.35 on Thursday. The company has a market capitalization of $16.52 billion, a price-to-earnings ratio of 4.17, a PEG ratio of 1.35 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. Ball Co. has a 1-year low of $51.96 and a 1-year high of $71.32. The business has a 50 day simple moving average of $56.87 and a two-hundred day simple moving average of $61.37.

Ball (NYSE:BALL) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. Ball’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company posted $0.83 earnings per share. Research analysts anticipate that Ball Co. will post 3.15 EPS for the current fiscal year.

Ball Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. Ball’s dividend payout ratio (DPR) is 6.03%.

Ball declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the company to repurchase up to 24.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are 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.