Nisa Investment Advisors LLC Boosts Position in Ball Co. (NYSE:BALL)

Nisa Investment Advisors LLC grew its stake in shares of Ball Co. (NYSE:BALL) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,373 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Ball were worth $7,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Jessup Wealth Management Inc acquired a new position in Ball in the first quarter valued at $7,479,000. Parnassus Investments LLC increased its position in Ball by 5.0% during the fourth quarter. Parnassus Investments LLC now owns 21,062,707 shares of the company’s stock worth $1,211,527,000 after buying an additional 998,527 shares during the period. TD Asset Management Inc boosted its holdings in shares of Ball by 4.2% in the first quarter. TD Asset Management Inc now owns 1,453,639 shares of the company’s stock valued at $97,917,000 after acquiring an additional 58,863 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Ball during the first quarter worth approximately $1,973,000. Finally, Lazard Freres Gestion S.A.S. increased its holdings in shares of Ball by 7.5% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,128,228 shares of the company’s stock valued at $62,438,000 after acquiring an additional 78,402 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Ball Trading Up 0.4 %

NYSE BALL traded up $0.23 during mid-day trading on Monday, reaching $63.65. 677,588 shares of the stock were exchanged, compared to its average volume of 1,908,323. The business’s fifty day simple moving average is $62.35 and its 200 day simple moving average is $64.57. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.93 and a current ratio of 1.18. The stock has a market capitalization of $19.76 billion, a PE ratio of 4.78, a PEG ratio of 1.78 and a beta of 0.85. Ball Co. has a 1-year low of $42.81 and a 1-year high of $71.32.

Ball (NYSE:BALL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. Ball had a return on equity of 19.45% and a net margin of 32.79%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the firm earned $0.61 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that Ball Co. will post 3.09 earnings per share for the current fiscal year.

Ball announced that its board has authorized a share buyback plan on Wednesday, April 24th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Ball Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, September 3rd. Ball’s dividend payout ratio is presently 6.02%.

Analyst Upgrades and Downgrades

BALL has been the subject of a number of recent research reports. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 14th. 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 research note on Wednesday, May 1st. UBS Group raised their price objective on shares of Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price target on Ball from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $78.00 price objective (up previously from $76.00) on shares of Ball in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.08.

Ball Company 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.