Driehaus Capital Management LLC Has $391,000 Holdings in Ball Co. (NYSE:BALL)

Driehaus Capital Management LLC lessened its holdings in Ball Co. (NYSE:BALL) by 13.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,512 shares of the company’s stock after selling 1,007 shares during the period. Driehaus Capital Management LLC’s holdings in Ball were worth $391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BALL. Independence Bank of Kentucky acquired a new stake in shares of Ball in the 1st quarter worth about $47,000. Friedenthal Financial purchased a new stake in Ball in the 2nd quarter valued at about $47,000. EverSource Wealth Advisors LLC increased its stake in Ball by 334.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock valued at $68,000 after buying an additional 815 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Ball in the 2nd quarter valued at about $72,000. Finally, Deseret Mutual Benefit Administrators increased its stake in Ball by 17.0% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock valued at $77,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

Ball Stock Up 0.7 %

BALL opened at $67.91 on Tuesday. The company has a 50 day moving average of $64.38 and a 200 day moving average of $65.23. The company has a market cap of $21.08 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 1.70 and a beta of 0.88. Ball Co. has a 12 month low of $42.81 and a 12 month high of $71.32. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79.

Ball (NYSE:BALL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.10 billion. Ball had a net margin of 32.79% and a return on equity of 19.45%. Ball’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.61 EPS. On average, sell-side analysts expect that Ball Co. will post 3.12 EPS for the current year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ball’s payout ratio is 6.02%.

Analyst Ratings Changes

Several equities research analysts have commented on BALL shares. Royal Bank of Canada decreased their price objective on shares of Ball from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Truist Financial reiterated a “buy” rating and issued a $78.00 price objective (up previously from $76.00) on shares of Ball in a research note on Friday, August 2nd. UBS Group increased their price objective on shares of Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Wells Fargo & Company reduced their target price on shares of Ball from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 17th. Finally, Citigroup reduced their target price on shares of Ball from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.83.

Ball 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.