Oppenheimer Asset Management Inc. Sells 1,142 Shares of Ball Co. (NYSE:BALL)

Posted by on May 5th, 2023

Oppenheimer Asset Management Inc. lessened its position in Ball Co. (NYSE:BALL – Get Rating) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,903 shares of the company’s stock after selling 1,142 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ball were worth $1,427,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Ball in the 3rd quarter worth about $514,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Ball in the 3rd quarter worth about $3,490,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Ball in the 3rd quarter worth about $2,522,000. ING Groep NV purchased a new stake in shares of Ball in the 3rd quarter worth about $2,380,000. Finally, Pictet Asset Management SA purchased a new stake in shares of Ball in the 3rd quarter worth about $7,185,000. Institutional investors own 82.65% of the company’s stock.

Ball Stock Performance

Shares of BALL stock opened at $59.26 on Friday. The company has a 50 day moving average price of $53.32 and a 200-day moving average price of $53.85. Ball Co. has a 52 week low of $46.00 and a 52 week high of $81.88. The firm has a market capitalization of $18.63 billion, a PE ratio of 26.57, a P/E/G ratio of 3.46 and a beta of 0.78. The company has a quick ratio of 0.47, a current ratio of 0.78 and a debt-to-equity ratio of 2.14.

Ball (NYSE:BALL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.10). Ball had a return on equity of 24.47% and a net margin of 4.68%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The business’s revenue was down 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Ball Co. will post 3.05 earnings per share for the current year.

Ball Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a $0.20 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. Ball’s dividend payout ratio is presently 35.87%.

Insider Activity at Ball

In related news, Director John A. Hayes sold 100,000 shares of the business’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 completion of the sale, the director now directly owns 480,552 shares in the company, valued at $28,064,236.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BALL has been the subject of several research analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $58.00 target price on shares of Ball in a research report on Wednesday, April 12th. JPMorgan Chase & Co. lifted their price target on shares of Ball from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, February 7th. Mizuho lifted their price target on shares of Ball from $58.00 to $59.00 in a research report on Tuesday, April 18th. Finally, Wells Fargo & Company lifted their price target on shares of Ball from $46.00 to $51.00 and gave the company an “underweight” rating in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.56.

About Ball

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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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Institutional Ownership by Quarter for Ball (NYSE:BALL)

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