Pacer Advisors Inc. trimmed its position in Ball Corporation (NYSE:BALL – Free Report) by 96.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,614 shares of the company’s stock after selling 398,197 shares during the period. Pacer Advisors Inc.’s holdings in Ball were worth $923,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Triumph Capital Management purchased a new stake in shares of Ball in the third quarter worth $26,000. Gilpin Wealth Management LLC bought a new stake in Ball during the fourth quarter valued at $29,000. Harbour Investments Inc. grew its position in Ball by 44.1% during the fourth quarter. Harbour Investments Inc. now owns 725 shares of the company’s stock worth $38,000 after buying an additional 222 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Ball during the second quarter worth about $46,000. Finally, EFG International AG bought a new position in Ball in the 4th quarter worth about $55,000. 86.51% of the stock is currently owned by hedge funds and other institutional investors.
Ball Trading Up 0.0%
NYSE BALL opened at $63.47 on Monday. The stock’s 50-day simple moving average is $60.45 and its two-hundred day simple moving average is $60.81. Ball Corporation has a twelve month low of $44.83 and a twelve month high of $68.29. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $16.80 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.22 and a beta of 0.98.
Ball Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.20 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. Ball’s payout ratio is presently 22.66%.
Analysts Set New Price Targets
Several research firms have weighed in on BALL. Mizuho set a $72.00 price target on Ball in a report on Wednesday. Bank of America upped their price objective on shares of Ball from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $65.00 target price (up from $60.00) on shares of Ball in a research note on Wednesday, August 5th. Wells Fargo & Company lifted their target price on shares of Ball from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Truist Financial set a $78.00 target price on shares of Ball in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.69.
View Our Latest Analysis on Ball
Ball Company Profile
Ball Corporation is a leading provider of sustainable aluminum packaging solutions and advanced aerospace technologies. Headquartered in Broomfield, Colorado, the company serves customers in the beverage, food and aerosol markets through a global network of manufacturing facilities. With an emphasis on sustainability and innovation, Ball designs and produces metal cans, bottles and ends that support recycling and reduce environmental impact.
The company’s packaging segment specializes in beverage cans for soft drinks, beer and energy drinks, as well as metal packaging for food and personal care applications.
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