Moors & Cabot Inc. Sells 10,465 Shares of Ball Co. (NYSE:BALL)

Moors & Cabot Inc. reduced its holdings in Ball Co. (NYSE:BALLFree Report) by 70.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,350 shares of the company’s stock after selling 10,465 shares during the period. Moors & Cabot Inc.’s holdings in Ball were worth $217,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Ball by 66.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,830,193 shares of the company’s stock valued at $817,294,000 after buying an additional 5,903,021 shares during the last quarter. Norges Bank acquired a new stake in Ball during the fourth quarter worth about $139,189,000. Victory Capital Management Inc. purchased a new position in Ball during the fourth quarter worth about $62,202,000. Morgan Stanley boosted its stake in Ball by 17.7% during the fourth quarter. Morgan Stanley now owns 7,979,673 shares of the company’s stock worth $408,081,000 after buying an additional 1,200,145 shares during the period. Finally, Ensign Peak Advisors Inc boosted its stake in Ball by 849.2% during the first quarter. Ensign Peak Advisors Inc now owns 902,806 shares of the company’s stock worth $49,754,000 after buying an additional 807,698 shares during the period. 84.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BALL. Truist Financial increased their target price on shares of Ball from $54.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th. Mizuho raised their price objective on shares of Ball from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, December 28th. Bank of America lowered shares of Ball from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $61.00 to $59.00 in a research note on Tuesday, January 2nd. Royal Bank of Canada raised their price objective on shares of Ball from $51.00 to $61.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Finally, Jefferies Financial Group lowered their price objective on shares of Ball from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.00.

Get Our Latest Report on BALL

Ball Trading Down 2.1 %

NYSE BALL opened at $57.25 on Wednesday. Ball Co. has a 12 month low of $42.81 and a 12 month high of $61.13. The company has a 50-day moving average of $56.96 and a 200-day moving average of $53.46. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.79 and a quick ratio of 0.54. The company has a market cap of $18.05 billion, a P/E ratio of 25.56, a P/E/G ratio of 3.82 and a beta of 0.87.

Ball (NYSE:BALLGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.56 billion. Ball had a net margin of 5.04% and a return on equity of 23.81%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. As a group, equities analysts predict that Ball Co. will post 3.12 earnings per share for the current year.

Ball Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, February 29th. Ball’s dividend payout ratio is presently 35.71%.

Insiders Place Their Bets

In other Ball news, COO Ronald J. Lewis bought 4,637 shares of Ball stock in a transaction dated Tuesday, November 21st. The stock was bought at an average cost of $53.91 per share, for a total transaction of $249,980.67. Following the purchase, the chief operating officer now owns 29,797 shares in the company, valued at approximately $1,606,356.27. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by company insiders.

About Ball

(Free Report)

Ball Corp. provides metal packaging for beverages, foods, and household products. It operates through the following business segments: Beverage Packaging North and Central America, Beverage Packaging South America, Beverage Packaging Europe, Middle East and Africa (EMEA), and Aerospace. The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

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Institutional Ownership by Quarter for Ball (NYSE:BALL)

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