Norris Perne & French LLP MI increased its holdings in shares of Ball Co. (NYSE:BALL – Free Report) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 431,792 shares of the company’s stock after purchasing an additional 3,559 shares during the quarter. Ball makes up about 1.9% of Norris Perne & French LLP MI’s investment portfolio, making the stock its 15th biggest holding. Norris Perne & French LLP MI owned 0.14% of Ball worth $21,495,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Ball by 66.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,830,193 shares of the company’s stock worth $817,294,000 after buying an additional 5,903,021 shares during the last quarter. Norges Bank acquired a new position in Ball during the fourth quarter valued at approximately $139,189,000. Victory Capital Management Inc. bought a new position in Ball in the fourth quarter valued at approximately $62,202,000. Morgan Stanley increased its position in shares of Ball by 17.7% during the 4th quarter. Morgan Stanley now owns 7,979,673 shares of the company’s stock worth $408,081,000 after purchasing an additional 1,200,145 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its stake in shares of Ball by 849.2% during the 1st quarter. Ensign Peak Advisors Inc now owns 902,806 shares of the company’s stock worth $49,754,000 after purchasing an additional 807,698 shares in the last quarter. Institutional investors own 84.79% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Credit Suisse Group cut shares of Ball from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $65.00 to $58.00 in a research note on Wednesday, September 13th. Jefferies Financial Group dropped their target price on shares of Ball from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, October 18th. Wells Fargo & Company cut their target price on shares of Ball from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 19th. Finally, Barclays upped their price objective on Ball from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, November 6th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Ball has an average rating of “Hold” and an average price target of $58.44.
Read Our Latest Stock Analysis on Ball
Insider Buying and Selling at Ball
In other Ball news, COO Ronald J. Lewis bought 4,637 shares of the stock in a transaction dated Tuesday, November 21st. The shares were bought at an average cost of $53.91 per share, with a total value of $249,980.67. Following the completion of the acquisition, the chief operating officer now owns 29,797 shares of the company’s stock, valued at $1,606,356.27. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.
Ball Stock Performance
NYSE:BALL traded up $0.05 during mid-day trading on Wednesday, hitting $57.66. 337,587 shares of the stock were exchanged, compared to its average volume of 1,878,103. The firm’s 50-day simple moving average is $52.57 and its 200 day simple moving average is $53.39. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 3.94 and a beta of 0.88. Ball Co. has a fifty-two week low of $42.81 and a fifty-two week high of $62.14. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.55 and a current ratio of 0.81.
Ball (NYSE:BALL – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Ball had a return on equity of 21.44% and a net margin of 4.29%. As a group, equities analysts anticipate that Ball Co. will post 2.9 EPS for the current fiscal year.
Ball Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, November 30th. Ball’s dividend payout ratio is currently 41.67%.
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.
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