Ball Co. (NYSE:BALL) Position Reduced by MAI Capital Management

MAI Capital Management cut its position in shares of Ball Co. (NYSE:BALL) by 67.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,210 shares of the company’s stock after selling 44,842 shares during the quarter. MAI Capital Management’s holdings in Ball were worth $1,440,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Boston Partners lifted its stake in Ball by 114.1% during the first quarter. Boston Partners now owns 4,057,645 shares of the company’s stock valued at $273,347,000 after buying an additional 2,162,167 shares in the last quarter. Mirova US LLC increased its holdings in shares of Ball by 0.5% in the 2nd quarter. Mirova US LLC now owns 2,495,497 shares of the company’s stock valued at $149,780,000 after purchasing an additional 13,320 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ball by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,414,615 shares of the company’s stock valued at $144,951,000 after purchasing an additional 171,924 shares during the period. Raymond James & Associates increased its holdings in shares of Ball by 6.1% in the 3rd quarter. Raymond James & Associates now owns 1,720,859 shares of the company’s stock valued at $116,864,000 after purchasing an additional 99,306 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Ball by 458.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,018,648 shares of the company’s stock valued at $61,139,000 after purchasing an additional 836,293 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Ball Trading Up 0.9 %

Shares of BALL stock opened at $60.42 on Thursday. Ball Co. has a 12 month low of $52.92 and a 12 month high of $71.32. 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 business’s 50 day moving average is $64.25 and its two-hundred day moving average is $64.45. The company has a market cap of $18.03 billion, a PE ratio of 4.56, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Ball (NYSE:BALL) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Ball had a return on equity of 17.46% and a net margin of 34.05%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the business earned $0.83 earnings per share. Ball’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts predict that Ball Co. will post 3.15 EPS for the current year.

Ball Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.20 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. Ball’s dividend payout ratio is 6.03%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BALL shares. Morgan Stanley upgraded Ball from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $69.00 to $78.00 in a report on Wednesday, September 4th. Citigroup upped their target price on Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Mizuho dropped their price objective on Ball from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Baird R W upgraded Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Finally, Truist Financial restated a “buy” rating and issued a $78.00 price objective (up previously from $76.00) on shares of Ball in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.75.

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.