Notis McConarty Edward Sells 800 Shares of Ball Co. (NYSE:BALL)

Notis McConarty Edward decreased its stake in shares of Ball Co. (NYSE:BALL) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,455 shares of the company’s stock after selling 800 shares during the quarter. Notis McConarty Edward’s holdings in Ball were worth $2,396,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BALL. Everence Capital Management Inc. bought a new stake in Ball in the 4th quarter worth approximately $774,000. Raymond James Financial Inc. purchased a new position in shares of Ball in the fourth quarter valued at $94,861,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Ball by 531,933.3% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 47,883 shares of the company’s stock worth $2,707,000 after purchasing an additional 47,874 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ball by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,891,046 shares of the company’s stock valued at $104,253,000 after purchasing an additional 36,809 shares in the last quarter. Finally, VisionPoint Advisory Group LLC lifted its position in Ball by 99.5% during the fourth quarter. VisionPoint Advisory Group LLC now owns 37,719 shares of the company’s stock valued at $2,053,000 after purchasing an additional 18,809 shares during the last quarter. 86.51% of the stock is owned by hedge funds and other institutional investors.

Ball Stock Performance

BALL stock opened at $48.54 on Friday. Ball Co. has a twelve month low of $48.51 and a twelve month high of $71.32. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 3.83, a PEG ratio of 1.24 and a beta of 0.99. The business’s fifty day simple moving average is $51.82 and its two-hundred day simple moving average is $57.47. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

Ball (NYSE:BALL) last posted its quarterly 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 the consensus estimate of $2.92 billion. Ball had a net margin of 33.98% and a return on equity of 16.17%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. Analysts predict that Ball Co. will post 3.48 earnings per share for the current year.

Ball announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the company to purchase up to 24.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.65%. Ball’s payout ratio is 6.32%.

Analyst Upgrades and Downgrades

BALL has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho upgraded 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. 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 note on Wednesday, February 5th. Wells Fargo & Company reissued an “underweight” rating and set a $49.00 target price (down previously from $56.00) on shares of Ball in a research report on Thursday, January 16th. Finally, Morgan Stanley lowered their price target on Ball from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ball currently has an average rating of “Moderate Buy” and an average target price of $63.30.

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.