Ball Co. (NYSE:BALL) SVP Buys $38,368.45 in Stock

Ball Co. (NYSE:BALL) SVP Mandy Glew bought 563 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $68.15 per share, for a total transaction of $38,368.45. Following the completion of the acquisition, the senior vice president now directly owns 3,563 shares in the company, valued at approximately $242,818.45. This represents a 18.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ball Stock Down 0.7 %

Ball stock opened at $55.64 on Friday. The firm’s 50 day moving average price is $56.68 and its two-hundred day moving average price is $61.30. The firm has a market cap of $16.61 billion, a PE ratio of 4.20, a P/E/G ratio of 1.38 and a beta of 0.93. Ball Co. has a twelve month low of $51.96 and a twelve month high of $71.32. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 1.09.

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

Ball Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. Ball’s dividend payout ratio is 6.03%.

Ball declared that its board has approved a share repurchase program on Wednesday, January 29th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 24.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Ball

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BALL. Peterson Financial Group Inc. acquired a new position in shares of Ball during the 3rd quarter worth $30,000. Venturi Wealth Management LLC boosted 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 in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Ball in the third quarter worth $47,000. Quarry LP increased its position in Ball by 598.6% during the second quarter. Quarry LP now owns 999 shares of the company’s stock worth $60,000 after buying an additional 856 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Ball during the third quarter valued at about $66,000. Institutional investors own 86.51% of the company’s stock.

Wall Street Analyst Weigh In

BALL has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Ball in a report on Monday, November 4th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $49.00 target price (down from $56.00) on shares of Ball in a report on Thursday, January 16th. Citigroup dropped their price target on Ball from $69.00 to $59.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. UBS Group raised shares of Ball from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $62.00 to $58.00 in a research note on Friday, January 10th. Finally, Truist Financial dropped their target price on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ball presently has an average rating of “Moderate Buy” and an average price target of $68.17.

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.