Oppenheimer & Co. Inc. Sells 58,002 Shares of Ball Co. (NYSE:BALL)

Oppenheimer & Co. Inc. lowered its stake in Ball Co. (NYSE:BALL) by 48.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,360 shares of the company’s stock after selling 58,002 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ball were worth $3,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BALL. Independence Bank of Kentucky bought a new stake in Ball during the first quarter valued at about $47,000. Friedenthal Financial bought a new stake in Ball during the 2nd quarter valued at approximately $47,000. Manchester Capital Management LLC lifted its holdings in Ball by 2,341.5% in 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 in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Ball in the 2nd quarter worth approximately $72,000. Finally, Principal Securities Inc. purchased a new stake in Ball during the 4th quarter valued at approximately $74,000. 86.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BALL has been the topic of several research analyst reports. Citigroup lowered their target price on shares of Ball from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, July 8th. Wells Fargo & Company dropped their price objective on shares of Ball from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Truist Financial reaffirmed a “buy” rating and issued a $78.00 target price (up from $76.00) on shares of Ball in a report on Friday, August 2nd. Morgan Stanley upgraded Ball from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $69.00 to $78.00 in a research report on Wednesday, September 4th. Finally, UBS Group raised their price target on Ball from $56.00 to $59.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ball currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.83.

Ball Price Performance

Ball stock opened at $66.00 on Monday. Ball Co. has a 1 year low of $42.81 and a 1 year high of $71.32. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.18. The company’s fifty day moving average price is $63.01 and its 200 day moving average price is $65.05. The stock has a market capitalization of $20.48 billion, a P/E ratio of 4.97, a P/E/G ratio of 1.64 and a beta of 0.88.

Ball (NYSE:BALL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. Ball had a net margin of 32.79% and a return on equity of 19.45%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the firm earned $0.61 EPS. Ball’s revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that Ball Co. will post 3.12 earnings per share for the current fiscal year.

Ball Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Tuesday, September 3rd. Ball’s dividend payout ratio (DPR) is 6.02%.

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.