Dover Advisors LLC Makes New Investment in Ball Co. (NYSE:BALL)

Dover Advisors LLC purchased a new stake in shares of Ball Co. (NYSE:BALL) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 8,563 shares of the company’s stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Peterson Financial Group Inc. bought a new stake in Ball during the third quarter valued at approximately $30,000. Venturi Wealth Management LLC raised its position in shares of Ball by 328.4% during the 4th quarter. Venturi Wealth Management LLC now owns 664 shares of the company’s stock valued at $37,000 after buying an additional 509 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Ball during the 3rd quarter worth $47,000. Brooklyn Investment Group purchased a new position in Ball in the third quarter worth $66,000. Finally, Farther Finance Advisors LLC increased 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 acquiring an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BALL shares. Truist Financial dropped their price target on Ball from $78.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley dropped their target price on Ball from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Mizuho upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target on the stock in a research report on Tuesday, December 10th. Citigroup lowered their price objective on shares of Ball from $69.00 to $59.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Robert W. Baird cut their price objective on shares of Ball from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.25.

Ball Trading Up 1.8 %

Shares of BALL opened at $51.35 on Monday. The stock has a market capitalization of $15.33 billion, a P/E ratio of 4.06, a PEG ratio of 1.22 and a beta of 0.94. Ball Co. has a twelve month low of $48.95 and a twelve month high of $71.32. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $53.74 and a two-hundred day simple moving average of $59.97.

Ball (NYSE:BALL) last posted its earnings results on Tuesday, February 4th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $0.78 earnings per share. Ball’s revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts anticipate that Ball Co. will post 3.48 EPS for the current year.

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

Ball Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.20 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.56%. Ball’s dividend payout ratio is currently 6.32%.

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.