Ball Co. (NYSE:BALL) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in shares of Ball Co. (NYSE:BALL) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 357,771 shares of the company’s stock after selling 22,478 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of Ball worth $21,473,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new position in shares of Ball during the 1st quarter valued at approximately $47,000. Friedenthal Financial acquired a new position in shares of Ball in the second quarter worth about $47,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Ball in the second quarter worth about $72,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Ball by 17.0% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock worth $77,000 after acquiring an additional 186 shares in the last quarter. Finally, Homestead Advisers Corp grew its position in shares of Ball by 46.7% during the 4th quarter. Homestead Advisers Corp now owns 1,577 shares of the company’s stock valued at $91,000 after acquiring an additional 502 shares during the period. 86.51% of the stock is owned by institutional investors and hedge funds.

Ball Stock Down 1.2 %

Shares of NYSE:BALL opened at $66.31 on Monday. Ball Co. has a 52-week low of $42.81 and a 52-week high of $71.32. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79. The business has a fifty day moving average of $63.70 and a two-hundred day moving average of $65.15. The stock has a market cap of $20.58 billion, a P/E ratio of 4.99, a PEG ratio of 1.64 and a beta of 0.88.

Ball (NYSE:BALL) last released its quarterly earnings data 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. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Ball had a net margin of 32.79% and a return on equity of 19.45%. Ball’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.61 earnings per share. On average, research analysts expect that Ball Co. will post 3.12 earnings per share for the current year.

Ball Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ball’s dividend payout ratio is presently 6.02%.

Analysts Set New Price Targets

BALL has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Ball from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Morgan Stanley raised shares of Ball from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Royal Bank of Canada cut their price target on shares of Ball from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Robert W. Baird upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Wednesday, August 14th. Finally, UBS Group boosted their target price on shares of Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.