Redwood Investment Management LLC Makes New Investment in Ball Corporation $BALL

Redwood Investment Management LLC purchased a new position in Ball Corporation (NYSE:BALL) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,648 shares of the company’s stock, valued at approximately $1,043,000.

A number of other hedge funds also recently made changes to their positions in the company. Meridian Wealth Management LLC lifted its position in shares of Ball by 2.7% during the fourth quarter. Meridian Wealth Management LLC now owns 6,295 shares of the company’s stock worth $333,000 after purchasing an additional 165 shares in the last quarter. Western Wealth Management LLC grew its holdings in Ball by 3.2% during the 4th quarter. Western Wealth Management LLC now owns 6,752 shares of the company’s stock valued at $358,000 after purchasing an additional 208 shares in the last quarter. Parvin Asset Management LLC grew its holdings in Ball by 19.5% during the 1st quarter. Parvin Asset Management LLC now owns 1,315 shares of the company’s stock valued at $78,000 after purchasing an additional 215 shares in the last quarter. Evelyn Partners Investment Management LLP grew its holdings in Ball by 11.3% during the 1st quarter. Evelyn Partners Investment Management LLP now owns 2,144 shares of the company’s stock valued at $127,000 after purchasing an additional 218 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in Ball by 44.1% during the 4th quarter. Harbour Investments Inc. now owns 725 shares of the company’s stock worth $38,000 after buying an additional 222 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 brokerages have commented on BALL. Bank of America boosted their price objective on shares of Ball from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Ball from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. Wells Fargo & Company lifted their target price on Ball from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their price target on Ball from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised Ball from a “neutral” rating to an “overweight” rating and set a $60.00 price target for the company in a report on Monday, May 18th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.85.

Ball Stock Performance

Shares of Ball stock opened at $65.19 on Tuesday. The firm has a market cap of $17.36 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.28 and a beta of 0.98. The firm’s 50-day simple moving average is $59.85 and its 200-day simple moving average is $60.60. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.72 and a current ratio of 1.12. Ball Corporation has a 1 year low of $44.83 and a 1 year high of $68.29.

Ball (NYSE:BALL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.34 billion. Ball had a return on equity of 18.69% and a net margin of 6.86%.The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. Equities analysts forecast that Ball Corporation will post 3.99 earnings per share for the current fiscal year.

Ball Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 1.2%. Ball’s dividend payout ratio is presently 23.12%.

Ball Company Profile

Ball Corporation is a leading provider of sustainable aluminum packaging solutions and advanced aerospace technologies. Headquartered in Broomfield, Colorado, the company serves customers in the beverage, food and aerosol markets through a global network of manufacturing facilities. With an emphasis on sustainability and innovation, Ball designs and produces metal cans, bottles and ends that support recycling and reduce environmental impact.

The company’s packaging segment specializes in beverage cans for soft drinks, beer and energy drinks, as well as metal packaging for food and personal care applications.