Belpointe Asset Management LLC Makes New $58,000 Investment in Ball Co. (NYSE:BALL)

Belpointe Asset Management LLC bought a new position in Ball Co. (NYSE:BALL – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,137 shares of the company’s stock, valued at approximately $58,000.

A number of other hedge funds have also bought and sold shares of the business. Allworth Financial LP raised its position in Ball by 48.2% in the 4th quarter. Allworth Financial LP now owns 861 shares of the company’s stock worth $44,000 after buying an additional 280 shares during the last quarter. BerganKDV Wealth Management LLC bought a new stake in shares of Ball during the 4th quarter valued at about $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Ball during the 4th quarter valued at about $26,000. Glassman Wealth Services bought a new stake in shares of Ball during the 4th quarter valued at about $26,000. Finally, Covington Capital Management bought a new stake in shares of Ball during the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

Ball Stock Performance

Shares of Ball stock opened at $54.24 on Tuesday. The stock’s fifty day moving average is $53.56 and its two-hundred day moving average is $54.52. The company has a market capitalization of $17.06 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 3.57 and a beta of 0.78. The company has a quick ratio of 0.46, a current ratio of 0.76 and a debt-to-equity ratio of 1.97. Ball Co. has a 52 week low of $46.00 and a 52 week high of $74.49.

Ball (NYSE:BALL – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.49 by $0.20. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.57 billion. Ball had a return on equity of 23.92% and a net margin of 2.98%. Ball’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. As a group, analysts expect that Ball Co. will post 3.06 earnings per share for the current year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, May 31st. Ball’s payout ratio is 56.34%.

Analyst Ratings Changes

BALL has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price target on Ball from $46.00 to $51.00 and gave the company an “underweight” rating in a research note on Friday, February 3rd. Mizuho boosted their price objective on Ball from $58.00 to $59.00 in a research note on Tuesday, April 18th. JPMorgan Chase & Co. boosted their price objective on Ball from $55.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. Finally, Truist Financial reiterated a “hold” rating and set a $58.00 price objective on shares of Ball in a research note on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.67.

Ball Company Profile

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Ball Corp. provides metal packaging for beverages, foods, and household products. It operates through the following business segments: Beverage Packaging North and Central America, Beverage Packaging South America, Beverage Packaging Europe, Middle East and Africa (EMEA), and Aerospace. The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.