Palisade Asset Management LLC Reduces Stock Holdings in Ball Co. (NYSE:BALL)

Palisade Asset Management LLC lowered its stake in shares of Ball Co. (NYSE:BALL) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 172,756 shares of the company’s stock after selling 893 shares during the quarter. Palisade Asset Management LLC owned 0.06% of Ball worth $11,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in shares of Ball by 0.9% during the second quarter. Federated Hermes Inc. now owns 18,941 shares of the company’s stock valued at $1,137,000 after buying an additional 162 shares during the period. Fifth Third Bancorp lifted its stake in shares of Ball by 2.0% during the 2nd quarter. Fifth Third Bancorp now owns 8,743 shares of the company’s stock worth $525,000 after acquiring an additional 174 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Ball by 17.0% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock valued at $77,000 after acquiring an additional 186 shares during the period. Moors & Cabot Inc. grew its position in Ball by 4.5% in the 3rd quarter. Moors & Cabot Inc. now owns 4,442 shares of the company’s stock valued at $302,000 after acquiring an additional 192 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Ball by 1.2% in the third quarter. Advisors Asset Management Inc. now owns 16,895 shares of the company’s stock worth $1,147,000 after purchasing an additional 199 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Analyst Ratings Changes

BALL has been the topic of a number of research analyst reports. Morgan Stanley upgraded shares of Ball from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $69.00 to $78.00 in a report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 target price on shares of Ball in a research note on Monday, November 4th. Baird R W raised shares of Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Wells Fargo & Company dropped their price objective on Ball from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $78.00 target price (up from $76.00) on shares of Ball in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.75.

Ball Price Performance

Shares of BALL stock opened at $61.86 on Friday. The stock’s 50-day moving average is $64.08 and its 200 day moving average is $64.37. Ball Co. has a 1-year low of $53.57 and a 1-year high of $71.32. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. The company has a market cap of $18.46 billion, a P/E ratio of 4.67, a PEG ratio of 1.52 and a beta of 0.90.

Ball (NYSE:BALL) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. The company’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. Research analysts predict that Ball Co. will post 3.15 earnings per share for the current fiscal year.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Monday, December 2nd. Ball’s dividend payout ratio is currently 6.03%.

Ball Company Profile

Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.