Larson Financial Group LLC purchased a new stake in shares of Ball Co. (NYSE:BALL – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 807 shares of the company’s stock, valued at approximately $41,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AE Wealth Management LLC purchased a new position in shares of Ball in the fourth quarter valued at approximately $3,683,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Ball in the third quarter valued at about $704,000. United Asset Strategies Inc. acquired a new position in Ball during the fourth quarter worth about $521,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Ball in the 4th quarter valued at about $156,000. Finally, Balentine LLC purchased a new position in Ball in the 4th quarter worth approximately $279,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Truist Financial reaffirmed a “hold” rating and issued a $58.00 price target on shares of Ball in a report on Wednesday, April 12th. Citigroup raised their price objective on shares of Ball from $51.00 to $54.00 in a research report on Wednesday, January 4th. JPMorgan Chase & Co. boosted their target price on shares of Ball from $55.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th. Mizuho raised their price target on shares of Ball from $58.00 to $59.00 in a report on Tuesday, April 18th. Finally, Wells Fargo & Company upped their price objective on Ball from $46.00 to $51.00 and gave the company an “underweight” rating in a report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Ball currently has an average rating of “Hold” and an average target price of $58.56.
Ball Stock Up 0.9 %
Ball (NYSE:BALL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.10). The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Ball had a net margin of 4.68% and a return on equity of 24.47%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. Analysts forecast that Ball Co. will post 3.05 earnings per share for the current fiscal year.
Ball Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.80 annualized dividend and a yield of 1.54%. Ball’s dividend payout ratio (DPR) is 35.87%.
Insider Activity
In related news, Director John A. Hayes sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $58.40, for a total transaction of $5,840,000.00. Following the sale, the director now directly owns 480,552 shares in the company, valued at $28,064,236.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.
Ball Profile
Ball Corp. provides metal packaging for beverages, foods, and household products. It operates through the following business segments: Beverage Packaging North and Central America, Beverage Packaging South America, Beverage Packaging Europe, Middle East and Africa (EMEA), and Aerospace. The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.
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