Assenagon Asset Management S.A. Sells 256 Shares of Ball Co. (NYSE:BALL)

Posted by Defense World Staff on Oct 18th, 2023

Assenagon Asset Management S.A. trimmed its holdings in Ball Co. (NYSE:BALL – Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,512 shares of the company’s stock after selling 256 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Ball were worth $787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of BALL. Macquarie Group Ltd. bought a new position in shares of Ball in the 3rd quarter worth about $533,000. Commonwealth Equity Services LLC bought a new position in shares of Ball in the 3rd quarter worth about $1,319,000. First Trust Advisors LP bought a new position in shares of Ball in the 3rd quarter worth about $2,863,000. Pathstone Family Office LLC bought a new stake in Ball during the 3rd quarter valued at about $621,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Ball during the 3rd quarter valued at about $1,181,000. 84.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on BALL shares. Credit Suisse Group lowered shares of Ball from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $65.00 to $58.00 in a research note on Wednesday, September 13th. JPMorgan Chase & Co. reduced their price objective on shares of Ball from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday, August 10th. Wells Fargo & Company upgraded shares of Ball from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $52.00 to $55.00 in a research note on Tuesday, June 20th. Bank of America lowered shares of Ball from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $65.00 to $63.00 in a research note on Monday, July 10th. Finally, Jefferies Financial Group raised shares of Ball from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $64.00 in a report on Friday, September 29th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.75.

Check Out Our Latest Report on BALL

Ball Stock Performance

BALL opened at $45.58 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.50 and a debt-to-equity ratio of 1.92. The company has a market cap of $14.36 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 3.03 and a beta of 0.82. The company’s 50 day moving average is $51.18 and its 200 day moving average is $53.77. Ball Co. has a 12-month low of $43.38 and a 12-month high of $62.14.

Ball (NYSE:BALL – Get Free Report) last posted 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. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.84 billion. Ball had a net margin of 5.48% and a return on equity of 21.43%. The firm’s revenue was down 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. On average, equities research analysts predict that Ball Co. will post 3.03 EPS for the current year.

Ball Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, August 31st. Ball’s payout ratio is 31.75%.

Insider Buying and Selling

In related news, VP Deron Goodwin sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $52.85, for a total value of $26,425.00. Following the transaction, the vice president now owns 12,001 shares of the company’s stock, valued at $634,252.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ball news, VP Deron Goodwin sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $52.85, for a total transaction of $26,425.00. Following the sale, the vice president now owns 12,001 shares in the company, valued at approximately $634,252.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Kaufman sold 3,820 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $52.41, for a total transaction of $200,206.20. Following the sale, the insider now owns 8,861 shares in the company, valued at approximately $464,405.01. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

About Ball

(Free Report)

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.