Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Ball Co. (NYSE:BALL – Free Report) by 83.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 15,939 shares of the company’s stock after selling 79,379 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ball were worth $878,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Palisade Asset Management LLC lifted its holdings in Ball by 2.7% in the first quarter. Palisade Asset Management LLC now owns 157,607 shares of the company’s stock worth $8,686,000 after purchasing an additional 4,125 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Ball by 4.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 210,763 shares of the company’s stock worth $11,615,000 after acquiring an additional 9,351 shares during the period. Hartford Investment Management Co. boosted its holdings in shares of Ball by 16.6% in the first quarter. Hartford Investment Management Co. now owns 26,463 shares of the company’s stock valued at $1,458,000 after acquiring an additional 3,767 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Ball by 1.2% during the first quarter. Principal Financial Group Inc. now owns 384,947 shares of the company’s stock valued at $21,214,000 after acquiring an additional 4,444 shares during the period. Finally, Spire Wealth Management raised its holdings in Ball by 118.8% during the first quarter. Spire Wealth Management now owns 4,550 shares of the company’s stock worth $251,000 after purchasing an additional 2,470 shares in the last quarter. Institutional investors own 86.04% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on BALL. Bank of America downgraded Ball from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $65.00 to $63.00 in a research note on Monday, July 10th. Citigroup raised their price objective on shares of Ball from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Wells Fargo & Company upgraded shares of Ball from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $52.00 to $55.00 in a report on Tuesday, June 20th. JPMorgan Chase & Co. reduced their target price on shares of Ball from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Thursday, August 10th. Finally, Jefferies Financial Group upped their price target on Ball from $59.00 to $61.00 in a report on Tuesday, July 18th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ball currently has a consensus rating of “Hold” and an average price target of $57.60.
Ball Stock Performance
BALL stock opened at $52.36 on Thursday. The firm has a 50 day moving average of $56.71 and a two-hundred day moving average of $55.12. Ball Co. has a 12 month low of $46.00 and a 12 month high of $62.14. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 3.50 and a beta of 0.80. The company has a quick ratio of 0.50, a current ratio of 0.78 and a debt-to-equity ratio of 1.92.
Ball (NYSE:BALL – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Ball had a net margin of 5.48% and a return on equity of 21.43%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the prior year, the company posted $0.82 earnings per share. Ball’s revenue for the quarter was down 13.7% on a year-over-year basis. As a group, equities analysts anticipate that Ball Co. will post 3.03 EPS for the current fiscal year.
Ball Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Thursday, August 31st. Ball’s payout ratio is 31.75%.
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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