Envestnet Asset Management Inc. Sells 23,238 Shares of Ball Co. (NYSE:BALL)

Envestnet Asset Management Inc. decreased its stake in shares of Ball Co. (NYSE:BALL - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 353,530 shares of the company's stock after selling 23,238 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of Ball worth $19,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Picton Mahoney Asset Management raised its stake in shares of Ball by 68.9% in the fourth quarter. Picton Mahoney Asset Management now owns 522 shares of the company's stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Ball by 328.4% in the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company's stock valued at $37,000 after purchasing an additional 509 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in Ball during the fourth quarter worth about $76,000. ORG Wealth Partners LLC lifted its position in shares of Ball by 298.9% during the 4th quarter. ORG Wealth Partners LLC now owns 1,428 shares of the company's stock worth $79,000 after buying an additional 1,070 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its position in shares of Ball by 35.1% during the 4th quarter. Evermay Wealth Management LLC now owns 1,743 shares of the company's stock valued at $96,000 after purchasing an additional 453 shares during the last quarter. Institutional investors and hedge funds own 86.51% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BALL. Wells Fargo & Company reissued an "underweight" rating and set a $49.00 price objective (down previously from $56.00) on shares of Ball in a report on Thursday, January 16th. UBS Group decreased their price target on shares of Ball from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Citigroup reduced their target price on Ball from $69.00 to $59.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Mizuho dropped their price target on Ball from $63.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Robert W. Baird dropped their target price on shares of Ball from $70.00 to $63.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.

Ball Stock Up 0.8 %

Shares of NYSE BALL traded up $0.36 on Friday, reaching $47.43. 5,596,373 shares of the company's stock traded hands, compared to its average volume of 2,114,189. Ball Co. has a 12 month low of $43.51 and a 12 month high of $71.32. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 3.75, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The business's 50 day simple moving average is $50.33 and its two-hundred day simple moving average is $56.01.

Ball (NYSE:BALL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.03. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.92 billion. Ball had a net margin of 33.98% and a return on equity of 16.17%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 EPS. As a group, equities research analysts forecast that Ball Co. will post 3.48 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, March 3rd. Ball's payout ratio is 6.32%.

Ball declared that its board has authorized a share repurchase plan on Wednesday, January 29th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 24.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

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.