Sumitomo Mitsui DS Asset Management Company Ltd Has $2.34 Million Stake in Ball Co. (NYSE:BALL)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in shares of Ball Co. (NYSE:BALL) by 19.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,486 shares of the company’s stock after selling 8,448 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ball were worth $2,342,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. boosted its holdings in shares of Ball by 0.9% during the second quarter. Federated Hermes Inc. now owns 18,941 shares of the company’s stock worth $1,137,000 after acquiring an additional 162 shares during the period. Fifth Third Bancorp increased its position in Ball by 2.0% during the 2nd quarter. Fifth Third Bancorp now owns 8,743 shares of the company’s stock worth $525,000 after buying an additional 174 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Ball by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 34,206 shares of the company’s stock worth $2,304,000 after buying an additional 175 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of Ball by 17.0% in the second quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock valued at $77,000 after acquiring an additional 186 shares during the period. Finally, Veracity Capital LLC grew its stake in shares of Ball by 5.6% in the first quarter. Veracity Capital LLC now owns 3,739 shares of the company’s stock valued at $252,000 after acquiring an additional 197 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.

Ball Stock Down 1.6 %

BALL stock opened at $66.19 on Tuesday. The firm has a 50-day moving average price of $65.19 and a 200-day moving average price of $65.18. 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. The stock has a market capitalization of $20.54 billion, a P/E ratio of 4.98, a price-to-earnings-growth ratio of 1.63 and a beta of 0.88.

Ball (NYSE:BALL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Ball Co. will post 3.12 EPS for the current fiscal year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Tuesday, September 3rd. Ball’s payout ratio is 6.02%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley raised shares of Ball from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $69.00 to $78.00 in a report on Wednesday, September 4th. Wells Fargo & Company lifted their price objective on Ball from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Truist Financial reissued a “buy” rating and set a $78.00 target price (up from $76.00) on shares of Ball in a report on Friday, August 2nd. Royal Bank of Canada dropped their price target on Ball from $77.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Baird R W upgraded shares of 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, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ball presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.08.

Ball Company 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.