Victory Capital Management Inc. Decreases Holdings in Ball Co. (NYSE:BALL)

Victory Capital Management Inc. cut its holdings in shares of Ball Co. (NYSE:BALL) by 21.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,110 shares of the company’s stock after selling 28,065 shares during the period. Victory Capital Management Inc.’s holdings in Ball were worth $7,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. lifted 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 purchasing an additional 162 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Ball by 2.0% in the 2nd quarter. Fifth Third Bancorp now owns 8,743 shares of the company’s stock valued at $525,000 after acquiring an additional 174 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Ball by 17.0% during the second quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock worth $77,000 after purchasing an additional 186 shares during the last quarter. Opal Wealth Advisors LLC boosted its holdings in Ball by 7.6% in the third quarter. Opal Wealth Advisors LLC now owns 3,033 shares of the company’s stock valued at $206,000 after purchasing an additional 215 shares during the last quarter. Finally, Castleview Partners LLC raised its stake in shares of Ball by 9.7% during the 3rd quarter. Castleview Partners LLC now owns 2,501 shares of the company’s stock valued at $170,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BALL shares. Mizuho decreased their price objective on shares of Ball from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company cut their price objective on Ball from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Morgan Stanley raised shares of Ball from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Truist Financial reaffirmed a “buy” rating and issued a $78.00 price target (up from $76.00) on shares of Ball in a research note on Friday, August 2nd. Finally, Baird R W raised 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ball currently has an average rating of “Moderate Buy” and a consensus target price of $70.75.

Ball Stock Up 0.8 %

Shares of Ball stock opened at $60.92 on Friday. The company has a market capitalization of $18.18 billion, a P/E ratio of 4.59, a P/E/G ratio of 1.50 and a beta of 0.90. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. Ball Co. has a 52-week low of $53.23 and a 52-week high of $71.32. The company has a 50 day moving average of $64.16 and a 200 day moving average of $64.42.

Ball (NYSE:BALL) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.13 billion. Ball had a return on equity of 17.46% and a net margin of 34.05%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, research analysts forecast that Ball Co. will post 3.15 EPS for the current fiscal year.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, December 2nd. Ball’s dividend payout ratio (DPR) is presently 6.03%.

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.