Ball Co. (NYSE:BALL) Shares Sold by Ieq Capital LLC

Ieq Capital LLC reduced its stake in shares of Ball Co. (NYSE:BALLFree Report) by 52.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,504 shares of the company’s stock after selling 6,182 shares during the period. Ieq Capital LLC’s holdings in Ball were worth $317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Ball by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 5,853,923 shares of the company’s stock worth $291,408,000 after buying an additional 72,585 shares during the period. Northern Trust Corp raised its holdings in shares of Ball by 3.8% during the third quarter. Northern Trust Corp now owns 3,138,780 shares of the company’s stock worth $156,248,000 after purchasing an additional 115,133 shares during the last quarter. Jensen Investment Management Inc. raised its holdings in shares of Ball by 3.1% during the third quarter. Jensen Investment Management Inc. now owns 3,126,992 shares of the company’s stock worth $155,662,000 after purchasing an additional 95,415 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Ball by 9.3% during the third quarter. Invesco Ltd. now owns 2,764,571 shares of the company’s stock worth $137,620,000 after purchasing an additional 234,363 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Ball by 1.5% during the third quarter. FMR LLC now owns 2,577,015 shares of the company’s stock worth $128,284,000 after purchasing an additional 37,492 shares during the last quarter. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Ball Stock Performance

BALL opened at $70.11 on Friday. The firm has a market capitalization of $21.76 billion, a PE ratio of 5.28, a PEG ratio of 4.54 and a beta of 0.87. Ball Co. has a twelve month low of $42.81 and a twelve month high of $71.32. The firm’s 50-day moving average price is $66.98 and its 200 day moving average price is $60.54. The company has a current ratio of 1.21, a quick ratio of 0.93 and a debt-to-equity ratio of 0.75.

Ball (NYSE:BALLGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $3.23 billion. Ball had a net margin of 31.42% and a return on equity of 21.79%. Ball’s quarterly revenue was down 17.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, sell-side analysts expect that Ball Co. will post 3.09 EPS for the current fiscal year.

Ball declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 24th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.20 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.14%. Ball’s dividend payout ratio (DPR) is 6.02%.

Insider Activity

In other news, insider Daniel William Fisher purchased 3,869 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $64.56 per share, with a total value of $249,782.64. Following the purchase, the insider now directly owns 111,866 shares in the company, valued at approximately $7,222,068.96. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Ball in a report on Monday, March 18th. They set an “equal weight” rating and a $68.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Ball from $59.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their target price on shares of Ball from $74.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Citigroup started coverage on shares of Ball in a report on Wednesday, March 27th. They set a “neutral” rating and a $70.00 target price for the company. Finally, TheStreet raised shares of Ball from a “c+” rating to a “b-” rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Ball has a consensus rating of “Hold” and an average target price of $69.23.

Check Out Our Latest Report on Ball

About Ball

(Free Report)

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.

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Institutional Ownership by Quarter for Ball (NYSE:BALL)

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