National Bank of Canada FI reduced its stake in shares of Ball Co. (NYSE:BALL – Free Report) by 81.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,186 shares of the company’s stock after selling 9,382 shares during the quarter. National Bank of Canada FI’s holdings in Ball were worth $127,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. United Asset Strategies Inc. boosted its holdings in Ball by 3.7% in the second quarter. United Asset Strategies Inc. now owns 8,368 shares of the company’s stock valued at $487,000 after acquiring an additional 302 shares during the last quarter. OLD National Bancorp IN boosted its position in Ball by 0.9% during the 2nd quarter. OLD National Bancorp IN now owns 64,206 shares of the company’s stock worth $3,737,000 after acquiring an additional 553 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Ball by 21.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 596,316 shares of the company’s stock valued at $34,378,000 after purchasing an additional 105,670 shares in the last quarter. AMI Asset Management Corp increased its position in shares of Ball by 1.1% during the 2nd quarter. AMI Asset Management Corp now owns 754,709 shares of the company’s stock worth $43,932,000 after purchasing an additional 8,341 shares during the last quarter. Finally, Boston Trust Walden Corp grew its position in shares of Ball by 2.2% in the 2nd quarter. Boston Trust Walden Corp now owns 252,595 shares of the company’s stock valued at $14,704,000 after acquiring an additional 5,485 shares during the period. 84.79% of the stock is currently owned by institutional investors and hedge funds.
Ball Stock Performance
Shares of BALL opened at $44.14 on Monday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.50 and a current ratio of 0.78. The stock has a 50 day moving average price of $50.48 and a two-hundred day moving average price of $53.58. The firm has a market capitalization of $13.91 billion, a P/E ratio of 17.52, a P/E/G ratio of 2.93 and a beta of 0.82. Ball Co. has a 52 week low of $43.38 and a 52 week high of $62.14.
Ball Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.20 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.81%. Ball’s dividend payout ratio is currently 31.75%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Bank of America cut shares of Ball from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $65.00 to $63.00 in a research report on Monday, July 10th. Citigroup boosted their price target on Ball from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. Credit Suisse Group downgraded shares of Ball from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $65.00 to $58.00 in a research report on Wednesday, September 13th. Barclays raised Ball from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $61.00 to $59.00 in a research report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Ball from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 10th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $57.92.
Read Our Latest Research Report on Ball
Insider Transactions at Ball
In other news, VP Deron Goodwin sold 500 shares of the company’s stock in a transaction 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 available at the SEC website. In related news, VP Deron Goodwin sold 500 shares of the stock in a transaction on Thursday, August 24th. The stock was 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 can be accessed through this hyperlink. Also, insider David A. Kaufman sold 3,820 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $52.41, for a total value of $200,206.20. Following the completion of the transaction, the insider now directly owns 8,861 shares in the company, valued at approximately $464,405.01. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
About Ball
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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