Tradewinds Capital Management LLC Acquires New Position in Ball Co. (NYSE:BALL)

Tradewinds Capital Management LLC acquired a new stake in shares of Ball Co. (NYSE:BALL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,000 shares of the company’s stock, valued at approximately $202,000.

Other large investors also recently modified their holdings of the company. Toth Financial Advisory Corp grew its position in shares of Ball by 8.2% in the 1st quarter. Toth Financial Advisory Corp now owns 42,714 shares of the company’s stock worth $2,877,000 after buying an additional 3,223 shares during the last quarter. Independence Bank of Kentucky bought a new stake in shares of Ball in the 1st quarter worth approximately $47,000. Jessup Wealth Management Inc bought a new stake in shares of Ball in the 1st quarter worth approximately $7,479,000. 180 Wealth Advisors LLC grew its position in shares of Ball by 9.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 24,392 shares of the company’s stock worth $1,643,000 after buying an additional 2,200 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ball by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,312 shares of the company’s stock valued at $1,840,000 after purchasing an additional 1,114 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Ball Stock Performance

NYSE BALL traded up $0.35 on Wednesday, reaching $60.06. 450,433 shares of the stock were exchanged, compared to its average volume of 1,980,515. The firm has a market capitalization of $18.64 billion, a PE ratio of 4.49, a PEG ratio of 1.65 and a beta of 0.85. The company has a current ratio of 1.21, a quick ratio of 0.93 and a debt-to-equity ratio of 0.75. Ball Co. has a one year low of $42.81 and a one year high of $71.32. The company’s 50-day simple moving average is $67.00 and its two-hundred day simple moving average is $63.34.

Ball (NYSE:BALL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.12. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Ball had a net margin of 31.42% and a return on equity of 21.79%. The company’s revenue for the quarter was down 17.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. Analysts expect that Ball Co. will post 3.09 EPS for the current fiscal year.

Ball declared that its board has authorized a share repurchase plan on Wednesday, April 24th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Monday, June 3rd. Ball’s payout ratio is currently 6.02%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays increased their price objective on shares of Ball from $71.00 to $72.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Citigroup assumed coverage on shares of Ball in a report on Wednesday, March 27th. They set a “neutral” rating and a $70.00 price target on the stock. Truist Financial raised shares of Ball from a “hold” rating to a “buy” rating and raised their price target for the company from $67.00 to $76.00 in a report on Tuesday, June 25th. Jefferies Financial Group raised their price target on shares of Ball from $69.00 to $78.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Mizuho increased their price objective on shares of Ball from $63.00 to $69.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Ball has an average rating of “Hold” and an average price target of $69.54.

Insider Activity

In related news, Director Pedro Henrique Mariani sold 5,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $69.90, for a total value of $349,500.00. Following the completion of the transaction, the director now directly owns 9,844 shares of the company’s stock, valued at $688,095.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.81% of the company’s stock.

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.