Amalgamated Bank Sells 3,265 Shares of Ball Co. (NYSE:BALL)

Amalgamated Bank lowered its position in Ball Co. (NYSE:BALL) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 59,979 shares of the company’s stock after selling 3,265 shares during the period. Amalgamated Bank’s holdings in Ball were worth $4,073,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in shares of Ball by 0.9% in the second quarter. Federated Hermes Inc. now owns 18,941 shares of the company’s stock worth $1,137,000 after buying an additional 162 shares in the last quarter. Fifth Third Bancorp lifted its stake in Ball by 2.0% in the 2nd quarter. Fifth Third Bancorp now owns 8,743 shares of the company’s stock worth $525,000 after purchasing an additional 174 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of Ball by 17.0% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock valued at $77,000 after purchasing an additional 186 shares during the last quarter. Tocqueville Asset Management L.P. grew its position in shares of Ball by 0.4% during the first quarter. Tocqueville Asset Management L.P. now owns 46,115 shares of the company’s stock valued at $3,106,000 after purchasing an additional 200 shares in the last quarter. Finally, Opal Wealth Advisors LLC increased its holdings in shares of Ball by 7.6% in the third quarter. Opal Wealth Advisors LLC now owns 3,033 shares of the company’s stock worth $206,000 after purchasing an additional 215 shares during the last quarter. 86.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BALL. Wells Fargo & Company dropped their price target on Ball from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Truist Financial restated a “buy” rating and issued a $78.00 price target (up previously from $76.00) on shares of Ball in a research report on Friday, August 2nd. Mizuho lowered their price objective on shares of Ball from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Robert W. Baird upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 target price on the stock in a report on Wednesday, August 14th. Finally, Citigroup increased their price target on shares of Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.75.

Ball Stock Performance

Shares of Ball stock opened at $60.25 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average is $64.88 and its two-hundred day moving average is $64.89. Ball Co. has a 52 week low of $48.05 and a 52 week high of $71.32. The company has a market capitalization of $17.98 billion, a PE ratio of 4.55, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90.

Ball (NYSE:BALL) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.13 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. As a group, analysts expect that Ball Co. will post 3.15 earnings per share for the current year.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.20 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.33%. Ball’s payout ratio is 6.03%.

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.