Envestnet Portfolio Solutions Inc. Decreases Stake in Ball Co. (NYSE:BALL)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Ball Co. (NYSE:BALL) by 22.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,634 shares of the company’s stock after selling 3,847 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Ball were worth $752,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Advisors Asset Management Inc. grew its holdings in shares of Ball by 1.2% during the third quarter. Advisors Asset Management Inc. now owns 16,895 shares of the company’s stock valued at $1,147,000 after buying an additional 199 shares during the last quarter. Park Avenue Securities LLC grew its stake in Ball by 2.1% during the 4th quarter. Park Avenue Securities LLC now owns 10,082 shares of the company’s stock valued at $556,000 after purchasing an additional 210 shares during the last quarter. Picton Mahoney Asset Management increased its holdings in shares of Ball by 68.9% in the fourth quarter. Picton Mahoney Asset Management now owns 522 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Jag Capital Management LLC raised its stake in shares of Ball by 1.0% in the fourth quarter. Jag Capital Management LLC now owns 26,729 shares of the company’s stock worth $1,474,000 after purchasing an additional 271 shares during the last quarter. Finally, Crumly & Associates Inc. lifted its holdings in shares of Ball by 3.3% during the fourth quarter. Crumly & Associates Inc. now owns 9,050 shares of the company’s stock worth $499,000 after purchasing an additional 293 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BALL shares. Robert W. Baird reduced their price target on shares of Ball from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Barclays reduced their target price on shares of Ball from $72.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada lowered their price target on shares of Ball from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Morgan Stanley reduced their price objective on Ball from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Truist Financial dropped their target price on Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ball currently has an average rating of “Moderate Buy” and a consensus target price of $63.30.

Ball Trading Up 0.2 %

Shares of BALL stock opened at $50.79 on Tuesday. Ball Co. has a 1-year low of $48.95 and a 1-year high of $71.32. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 4.01, a PEG ratio of 1.24 and a beta of 0.99. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 0.69. The stock has a 50 day simple moving average of $52.42 and a 200-day simple moving average of $58.25.

Ball (NYSE:BALL) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Ball had a net margin of 33.98% and a return on equity of 16.17%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts expect that Ball Co. will post 3.48 EPS for the current fiscal year.

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

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. Ball’s payout ratio is 6.32%.

Ball Company 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.