MAI Capital Management Has $1.44 Million Position in Ball Co. (NYSE:BALL)

MAI Capital Management lessened its stake in Ball Co. (NYSE:BALL - Free Report) by 67.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,210 shares of the company's stock after selling 44,842 shares during the quarter. MAI Capital Management's holdings in Ball were worth $1,440,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. raised its stake in Ball by 0.9% during the second quarter. Federated Hermes Inc. now owns 18,941 shares of the company's stock worth $1,137,000 after acquiring an additional 162 shares during the period. Fifth Third Bancorp raised its stake in Ball by 2.0% during the second quarter. Fifth Third Bancorp now owns 8,743 shares of the company's stock worth $525,000 after acquiring an additional 174 shares during the period. Deseret Mutual Benefit Administrators raised its stake in Ball by 17.0% during the second quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company's stock worth $77,000 after acquiring an additional 186 shares during the period. Opal Wealth Advisors LLC raised its stake in Ball by 7.6% during the third quarter. Opal Wealth Advisors LLC now owns 3,033 shares of the company's stock worth $206,000 after acquiring an additional 215 shares during the period. Finally, Empirical Finance LLC grew its position in Ball by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 10,969 shares of the company's stock worth $745,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 86.51% of the company's stock.

Ball Stock Performance

NYSE:BALL opened at $60.42 on Thursday. The firm's 50-day moving average is $64.25 and its 200-day moving average is $64.45. Ball Co. has a 52-week low of $52.92 and a 52-week high of $71.32. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 1.09. The company has a market cap of $18.03 billion, a price-to-earnings ratio of 4.56, a PEG ratio of 1.52 and a beta of 0.90.

Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Ball had a net margin of 34.05% and a return on equity of 17.46%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The business's revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that Ball Co. will post 3.15 earnings per share for the current year.

Ball Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. Ball's payout ratio is 6.03%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Mizuho decreased their target price on shares of Ball from $69.00 to $67.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Royal Bank of Canada restated an "outperform" rating and issued a $75.00 target price on shares of Ball in a research report on Monday, November 4th. Truist Financial reiterated a "buy" rating and issued a $78.00 price objective (up from $76.00) on shares of Ball in a report on Friday, August 2nd. Robert W. Baird upgraded shares of Ball from a "neutral" rating to an "outperform" rating and set a $70.00 price objective for the company in a report on Wednesday, August 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Ball from $63.00 to $61.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.75.

About Ball

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.