MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes $1.15 Million Position in Ball Co. (NYSE:BALL)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Ball Co. (NYSE:BALL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,132 shares of the company’s stock, valued at approximately $1,152,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its holdings in shares of Ball by 68.9% during the fourth quarter. Picton Mahoney Asset Management now owns 522 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares during the period. Venturi Wealth Management LLC lifted its holdings 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 purchasing an additional 509 shares during the period. Whipplewood Advisors LLC lifted its holdings in Ball by 764.9% in the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company’s stock worth $42,000 after purchasing an additional 719 shares during the period. Parvin Asset Management LLC acquired a new stake in Ball in the fourth quarter worth about $70,000. Finally, Farther Finance Advisors LLC lifted its holdings in Ball by 51.3% in the first quarter. Farther Finance Advisors LLC now owns 1,474 shares of the company’s stock worth $77,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.

Ball Price Performance

Shares of Ball stock opened at $54.32 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $51.41 and its two-hundred day moving average price is $52.81. Ball Co. has a 52 week low of $43.51 and a 52 week high of $68.12. The stock has a market cap of $15.07 billion, a PE ratio of 4.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08.

Ball (NYSE:BALL) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Ball had a net margin of 33.98% and a return on equity of 16.17%. Ball’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, sell-side analysts anticipate that Ball Co. will post 3.48 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.47%. Ball’s payout ratio is presently 47.62%.

Analyst Ratings Changes

BALL has been the subject of several research analyst reports. Truist Financial reduced their price objective on shares of Ball from $65.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada upped their price objective on shares of Ball from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Loop Capital reduced their price objective on shares of Ball from $83.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company upped their price objective on shares of Ball from $44.00 to $50.00 and gave the stock an “underweight” rating in a report on Wednesday, May 7th. Finally, Mizuho reduced their price objective on shares of Ball from $63.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.00.

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.