Corebridge Financial Inc. Sells 4,759 Shares of Ball Co. (NYSE:BALL)

Corebridge Financial Inc. lessened its position in Ball Co. (NYSE:BALL) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,160 shares of the company’s stock after selling 4,759 shares during the period. Corebridge Financial Inc.’s holdings in Ball were worth $4,364,000 at the end of the most recent quarter.

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

Ball Stock Down 1.2 %

Shares of NYSE BALL opened at $51.45 on Monday. The stock has a market capitalization of $14.53 billion, a P/E ratio of 4.06, a PEG ratio of 1.24 and a beta of 0.99. The stock’s fifty day moving average is $52.18 and its 200 day moving average is $57.88. Ball Co. has a 52 week low of $48.95 and a 52 week high of $71.32. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.69 and a current ratio of 1.00.

Ball (NYSE:BALL) last released its earnings results on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the firm earned $0.78 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that Ball Co. will post 3.48 earnings per share for the current fiscal year.

Ball declared that its board has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Ball Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Monday, March 3rd. Ball’s payout ratio is presently 6.32%.

Analysts Set New Price Targets

BALL has been the topic of several research reports. Citigroup decreased their price objective on shares of Ball from $69.00 to $59.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Robert W. Baird lowered their price target on shares of Ball from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. UBS Group reduced their price objective on Ball from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada lowered their target price on Ball from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, Barclays reduced their price target on Ball from $72.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.30.

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.