Forsta AP Fonden decreased its position in Ball Co. (NYSE:BALL – Free Report) by 16.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,900 shares of the company’s stock after selling 12,300 shares during the quarter. Forsta AP Fonden’s holdings in Ball were worth $3,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of BALL. Vanguard Group Inc. purchased a new stake in shares of Ball in the 3rd quarter valued at $1,695,575,000. Parnassus Investments LLC lifted its stake in Ball by 11.4% in the fourth quarter. Parnassus Investments LLC now owns 17,325,411 shares of the company’s stock worth $886,022,000 after purchasing an additional 1,770,734 shares during the last quarter. State Street Corp purchased a new stake in Ball during the third quarter valued at about $666,807,000. Price T Rowe Associates Inc. MD grew its stake in shares of Ball by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,927,172 shares of the company’s stock valued at $456,536,000 after buying an additional 262,165 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Ball by 17.7% in the fourth quarter. Morgan Stanley now owns 7,979,673 shares of the company’s stock worth $408,081,000 after buying an additional 1,200,145 shares during the period. 86.04% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
BALL has been the topic of several recent research reports. Wells Fargo & Company upgraded Ball from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $52.00 to $55.00 in a research report on Tuesday, June 20th. Truist Financial reaffirmed a “hold” rating and issued a $58.00 target price on shares of Ball in a research note on Wednesday, April 12th. Finally, Mizuho increased their price target on shares of Ball from $58.00 to $59.00 in a research report on Tuesday, April 18th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.93.
Ball Trading Up 2.1 %
Ball (NYSE:BALL – Free Report) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.49 by $0.20. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.57 billion. Ball had a return on equity of 23.92% and a net margin of 2.98%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. Equities research analysts predict that Ball Co. will post 3.05 earnings per share for the current fiscal year.
Ball Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Wednesday, May 31st. Ball’s dividend payout ratio (DPR) is presently 56.34%.
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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