This Billionaire is Buying These 5 Bargain Stocks Amid Selloff

4. Ball Corporation (NYSE:BALL)

Number of Hedge Fund Holders: 37

YTD Share Price Decline as of May 26: 20.66%

Ball Corporation (NYSE:BALL) is a Colorado-based company that manufactures aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. Ball Corporation (NYSE:BALL) is a new arrival in Tudor Investment Corp’s Q1 2022 portfolio, with the hedge fund buying 17,592 shares of the company, worth $1.5 million. 

On May 17, Truist analyst Michael Roxland upgraded Ball Corporation (NYSE:BALL) to Buy from Hold with an unchanged price target of $93. The stock has declined 14% since its Q1 earnings outpaced its peers, but there is nothing in the results or guidance that warrants the share price drop since the headwinds are “temporary”, the analyst told investors. He added that the stock now trades at 17.5 to 18-times expected 2022 earnings, which is below the 23 to 24-times earnings multiple over the past 3-4 years.

According to Insider Monkey’s first quarter database, 37 hedge funds were bullish on Ball Corporation (NYSE:BALL), up from 32 funds in the earlier quarter. Richard Chilton’s Chilton Investment Company is the leading shareholder of the company, with 3.6 million shares worth $325.5 million. 

Here is what ClearBridge Sustainability Leaders Strategy has to say about Ball Corporation (NYSE:BALL) in its Q3 2021 investor letter:

“Ball, the largest manufacturer of recyclable aluminum beverage cans in North America, bucked headwinds for the materials sector with strong quarterly results and was supported by contracts indicative of further growth.”