Oppenheimer Asset Management Inc. Grows Stock Position in Ball Co. (NYSE:BALL)

Oppenheimer Asset Management Inc. grew its holdings in Ball Co. (NYSE:BALLFree Report) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,726 shares of the company’s stock after purchasing an additional 2,264 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ball were worth $1,430,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in 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 purchased a new stake in shares of Ball during the 4th quarter worth approximately $139,189,000. Victory Capital Management Inc. acquired a new stake in Ball in the fourth quarter valued at $62,202,000. Morgan Stanley grew its holdings in Ball by 17.7% in the fourth quarter. Morgan Stanley now owns 7,979,673 shares of the company’s stock valued at $408,081,000 after purchasing an additional 1,200,145 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in Ball by 849.2% in the first quarter. Ensign Peak Advisors Inc now owns 902,806 shares of the company’s stock valued at $49,754,000 after purchasing an additional 807,698 shares during the last quarter. 84.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Ronald J. Lewis purchased 4,637 shares of Ball stock in a transaction on Tuesday, November 21st. The stock was bought at an average price of $53.91 per share, with a total value of $249,980.67. Following the completion of the transaction, the chief operating officer now directly owns 29,797 shares of the company’s stock, valued at $1,606,356.27. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Ball Stock Performance

Shares of NYSE BALL opened at $58.48 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $18.44 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 3.77 and a beta of 0.87. The stock’s fifty day simple moving average is $57.03 and its 200 day simple moving average is $53.49. Ball Co. has a 52-week low of $42.81 and a 52-week high of $61.13.

Ball (NYSE:BALLGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.56 billion. Ball had a return on equity of 23.81% and a net margin of 5.04%. Ball’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. As a group, sell-side analysts forecast that Ball Co. will post 3.1 earnings per share for the current fiscal 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 given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. Ball’s dividend payout ratio is currently 35.71%.

Wall Street Analysts Forecast Growth

BALL has been the topic of a number of analyst reports. Royal Bank of Canada increased their price objective on Ball from $51.00 to $61.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Wells Fargo & Company decreased their price objective on Ball from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 19th. Barclays increased their price objective on Ball from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Bank of America lowered Ball from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $61.00 to $59.00 in a research note on Tuesday, January 2nd. Finally, Jefferies Financial Group reduced their target price on Ball from $64.00 to $63.00 and set a “buy” rating on the stock in a research report 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.00.

Check Out Our Latest Stock Analysis on BALL

Ball Profile

(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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