Cresset Asset Management LLC Reduces Stock Position in Ball Co. (NYSE:BALL)

Cresset Asset Management LLC lessened its stake in Ball Co. (NYSE:BALL) by 72.9% in the fourth quarter, HoldingsChannel reports. The firm owned 100,084 shares of the company’s stock after selling 268,735 shares during the period. Cresset Asset Management LLC’s holdings in Ball were worth $5,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management raised its holdings in Ball by 68.9% in the 4th quarter. Picton Mahoney Asset Management now owns 522 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares during the period. Venturi Wealth Management LLC increased its position in Ball by 328.4% in the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company’s stock worth $37,000 after buying an additional 509 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Ball in the fourth quarter worth about $70,000. Hager Investment Management Services LLC purchased a new position in shares of Ball during the 4th quarter valued at about $76,000. Finally, ORG Wealth Partners LLC grew its stake in shares of Ball by 298.9% during the 4th quarter. ORG Wealth Partners LLC now owns 1,428 shares of the company’s stock valued at $79,000 after acquiring an additional 1,070 shares during the period. 86.51% of the stock is owned by institutional investors.

Ball Stock Performance

NYSE BALL opened at $50.72 on Thursday. The stock has a market capitalization of $14.32 billion, a PE ratio of 4.01, a P/E/G ratio of 1.24 and a beta of 1.10. Ball Co. has a 1-year low of $43.51 and a 1-year high of $70.97. The business has a 50 day simple moving average of $50.25 and a two-hundred day simple moving average of $54.52. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 0.69.

Ball (NYSE:BALL) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. Ball had a net margin of 33.98% and a return on equity of 16.17%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter last year, the business earned $0.68 earnings per share. Ball’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Ball Co. will post 3.48 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Monday, June 2nd. Ball’s dividend payout ratio (DPR) is 6.32%.

Ball announced that its Board of Directors has initiated a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

BALL has been the topic of several analyst reports. Loop Capital lowered their price target on shares of Ball from $83.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial lowered their target price on shares of Ball from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley cut their price target on Ball from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Barclays lowered their price objective on Ball from $72.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, UBS Group cut their target price on Ball from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.70.

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.