1832 Asset Management L.P. Has $28.01 Million Stock Holdings in Ball Co. (NYSE:BALL)

1832 Asset Management L.P. decreased its position in Ball Co. (NYSE:BALL) by 50.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 466,737 shares of the company’s stock after selling 471,254 shares during the period. 1832 Asset Management L.P. owned about 0.15% of Ball worth $28,014,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in Ball in the first quarter worth $47,000. Friedenthal Financial bought a new position in shares of Ball during the 2nd quarter worth about $47,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Ball during the 2nd quarter valued at about $72,000. Deseret Mutual Benefit Administrators increased its stake in Ball by 17.0% in the second quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock valued at $77,000 after acquiring an additional 186 shares during the period. Finally, Homestead Advisers Corp raised its position in Ball by 46.7% in the fourth quarter. Homestead Advisers Corp now owns 1,577 shares of the company’s stock worth $91,000 after purchasing an additional 502 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group upped their price objective on Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Citigroup cut their price objective on Ball from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Monday, July 8th. Baird R W raised shares of Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Robert W. Baird raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a report on Wednesday, August 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $78.00 price objective (up from $76.00) on shares of Ball in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Ball presently has an average rating of “Moderate Buy” and an average price target of $70.83.

Ball Stock Up 1.4 %

NYSE:BALL opened at $67.23 on Tuesday. The company has a market cap of $20.87 billion, a price-to-earnings ratio of 5.06, a P/E/G ratio of 1.64 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.18. The stock’s fifty day moving average price is $63.83 and its two-hundred day moving average price is $65.16. Ball Co. has a 52-week low of $42.81 and a 52-week high of $71.32.

Ball (NYSE:BALL) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Ball had a return on equity of 19.45% and a net margin of 32.79%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. On average, analysts anticipate that Ball Co. will post 3.12 EPS for the current year.

Ball Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. Ball’s payout ratio is presently 6.02%.

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.