Burney Co. Trims Position in Ball Co. (NYSE:BALL)

Burney Co. lowered its holdings in Ball Co. (NYSE:BALL) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,139 shares of the company’s stock after selling 457 shares during the period. Burney Co.’s holdings in Ball were worth $2,169,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. NBC Securities Inc. increased its position in Ball by 31.0% during the fourth quarter. NBC Securities Inc. now owns 769 shares of the company’s stock worth $44,000 after purchasing an additional 182 shares during the last quarter. Independence Bank of Kentucky acquired a new stake in Ball during the first quarter worth about $47,000. Friedenthal Financial acquired a new position in shares of Ball in the 2nd quarter valued at about $47,000. Manchester Capital Management LLC grew its holdings in shares of Ball by 2,341.5% during the 4th quarter. Manchester Capital Management LLC now owns 1,001 shares of the company’s stock worth $58,000 after purchasing an additional 960 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Ball during the 4th quarter worth approximately $74,000. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Ball Stock Down 1.4 %

BALL stock traded down $0.92 during mid-day trading on Thursday, hitting $62.57. 1,348,683 shares of the company were exchanged, compared to its average volume of 1,873,021. The firm has a fifty day simple moving average of $62.04 and a 200 day simple moving average of $64.82. The company has a market capitalization of $19.42 billion, a PE ratio of 4.72, a price-to-earnings-growth ratio of 1.78 and a beta of 0.85. Ball Co. has a twelve month low of $42.81 and a twelve month high of $71.32. The company has a current ratio of 1.18, a quick ratio of 0.93 and a debt-to-equity ratio of 0.79.

Ball (NYSE:BALL) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.10 billion. Ball had a return on equity of 19.45% and a net margin of 32.79%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.61 earnings per share. On average, research analysts forecast that Ball Co. will post 3.09 earnings per share for the current fiscal year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. Ball’s dividend payout ratio (DPR) is 6.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BALL shares. UBS Group lifted their price target on shares of Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Barclays upped their price target on shares of Ball from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Truist Financial reissued a “buy” rating and issued a $78.00 price objective (up from $76.00) on shares of Ball in a research report on Friday, August 2nd. Royal Bank of Canada reduced their price objective on Ball from $80.00 to $77.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Baird R W upgraded Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ball presently has an average rating of “Hold” and a consensus target price of $69.08.

About Ball

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.