OLD National Bancorp IN Cuts Position in Ball Co. (NYSE:BALL)

OLD National Bancorp IN decreased its position in Ball Co. (NYSE:BALL) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,172 shares of the company’s stock after selling 319 shares during the quarter. OLD National Bancorp IN’s holdings in Ball were worth $3,317,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BALL. Mizuho raised Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price objective on the stock in a research report on Tuesday, December 10th. Morgan Stanley lowered their target price on shares of Ball from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Citigroup lowered their target price on shares of Ball from $69.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Truist Financial lowered their target price on shares of Ball from $78.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 target price on shares of Ball in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.17.

Ball Stock Performance

NYSE BALL opened at $56.23 on Friday. Ball Co. has a 1 year low of $51.96 and a 1 year high of $71.32. The company has a market capitalization of $16.78 billion, a PE ratio of 4.24, a P/E/G ratio of 1.35 and a beta of 0.93. The company has a fifty day moving average of $56.77 and a two-hundred day moving average of $61.33. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82.

Ball (NYSE:BALL) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Ball had a net margin of 34.05% and a return on equity of 17.46%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. As a group, analysts expect that Ball Co. will post 3.15 earnings per share for the current year.

Ball announced that its Board of Directors has authorized a stock 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Ball Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. Ball’s dividend payout ratio (DPR) is 6.03%.

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.