GAMMA Investing LLC Cuts Stake in Ball Co. (NYSE:BALL)

GAMMA Investing LLC lessened its stake in shares of Ball Co. (NYSE:BALL) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,633 shares of the company’s stock after selling 524 shares during the quarter. GAMMA Investing LLC’s holdings in Ball were worth $200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in Ball during the 3rd quarter worth approximately $30,000. Catalyst Capital Advisors LLC acquired a new position in shares of Ball during the third quarter worth $47,000. Brooklyn Investment Group purchased a new position in shares of Ball in the third quarter valued at $66,000. Quarry LP grew its holdings in Ball by 598.6% during the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after purchasing an additional 856 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Ball by 29.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock worth $69,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Ball Stock Down 0.4 %

NYSE:BALL opened at $53.49 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79. The stock has a 50 day moving average of $58.54 and a 200-day moving average of $61.93. The firm has a market capitalization of $15.96 billion, a PE ratio of 4.03, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. Ball Co. has a 52 week low of $52.97 and a 52 week high of $71.32.

Ball (NYSE:BALL) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Ball had a return on equity of 17.46% and a net margin of 34.05%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Analysts predict that Ball Co. will post 3.15 EPS for the current year.

Ball Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Monday, December 2nd. Ball’s dividend payout ratio (DPR) is 6.03%.

Analyst Upgrades and Downgrades

BALL has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 price objective on shares of Ball in a research report on Monday, November 4th. Citigroup lowered their price objective on Ball from $69.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday. Truist Financial cut their target price on Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday. Mizuho raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target for the company in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company cut their price target on shares of Ball from $61.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ball presently has an average rating of “Moderate Buy” and a consensus price target of $69.08.

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.