International Assets Investment Management LLC Sells 59,999 Shares of Ball Co. (NYSE:BALL)

International Assets Investment Management LLC reduced its position in Ball Co. (NYSE:BALL) by 47.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,832 shares of the company’s stock after selling 59,999 shares during the quarter. International Assets Investment Management LLC’s holdings in Ball were worth $3,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Ball by 4.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 123,920 shares of the company’s stock valued at $7,128,000 after buying an additional 5,189 shares in the last quarter. Centurion Wealth Management LLC grew its position in shares of Ball by 16.2% during the fourth quarter. Centurion Wealth Management LLC now owns 5,326 shares of the company’s stock worth $306,000 after purchasing an additional 741 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in Ball by 9.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,192 shares of the company’s stock valued at $1,264,000 after purchasing an additional 2,006 shares during the period. Tritonpoint Wealth LLC purchased a new position in Ball in the 4th quarter worth approximately $2,795,000. Finally, Arizona State Retirement System boosted its stake in Ball by 0.9% in the 4th quarter. Arizona State Retirement System now owns 86,591 shares of the company’s stock worth $4,981,000 after purchasing an additional 777 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Ball Stock Performance

Ball stock opened at $69.61 on Friday. Ball Co. has a 1-year low of $42.81 and a 1-year high of $71.32. The company’s 50-day moving average is $66.22 and its 200 day moving average is $59.39. The firm has a market capitalization of $21.97 billion, a P/E ratio of 5.24, a price-to-earnings-growth ratio of 4.42 and a beta of 0.87. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.21 and a quick ratio of 0.93.

Ball (NYSE:BALL) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $3.23 billion. Ball had a return on equity of 21.79% and a net margin of 31.42%. Ball’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. Research analysts forecast that Ball Co. will post 3.11 EPS for the current year.

Ball Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, May 31st. Ball’s dividend payout ratio (DPR) is presently 6.02%.

Ball announced that its board has authorized a share repurchase program on Wednesday, April 24th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BALL. JPMorgan Chase & Co. lifted their price objective on shares of Ball from $59.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. UBS Group started coverage on Ball in a research report on Tuesday, January 16th. They set a “sell” rating and a $55.00 price objective for the company. Citigroup assumed coverage on Ball in a research report on Wednesday, March 27th. They issued a “neutral” rating and a $70.00 target price on the stock. Bank of America raised Ball from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $61.00 to $72.00 in a research note on Monday, March 4th. Finally, Robert W. Baird increased their target price on Ball from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.23.

Insiders Place Their Bets

In other news, insider Daniel William Fisher acquired 3,869 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $64.56 per share, for a total transaction of $249,782.64. Following the completion of the acquisition, the insider now directly owns 111,866 shares of the company’s stock, valued at approximately $7,222,068.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.81% of the company’s stock.

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.