M&T Bank Corp raised its holdings in shares of Ball Co. (NYSE:BALL - Free Report) by 44.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,538 shares of the company's stock after purchasing an additional 19,481 shares during the period. M&T Bank Corp's holdings in Ball were worth $4,315,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Swedbank AB boosted its stake in Ball by 7.0% in the 2nd quarter. Swedbank AB now owns 195,281 shares of the company's stock worth $11,721,000 after purchasing an additional 12,795 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Ball by 317.5% during the second quarter. Assenagon Asset Management S.A. now owns 201,117 shares of the company's stock valued at $12,071,000 after buying an additional 152,950 shares during the last quarter. Blue Trust Inc. increased its position in shares of Ball by 58.6% in the 2nd quarter. Blue Trust Inc. now owns 1,521 shares of the company's stock valued at $91,000 after acquiring an additional 562 shares during the period. Raymond James & Associates raised its stake in Ball by 17.5% in the 2nd quarter. Raymond James & Associates now owns 1,621,553 shares of the company's stock worth $97,326,000 after acquiring an additional 241,502 shares during the last quarter. Finally, Western Wealth Management LLC lifted its position in Ball by 4.9% during the 2nd quarter. Western Wealth Management LLC now owns 5,351 shares of the company's stock worth $321,000 after acquiring an additional 251 shares during the period. Hedge funds and other institutional investors own 86.51% of the company's stock.
Ball Price Performance
Shares of Ball stock traded up $0.25 during trading hours on Friday, reaching $58.24. The stock had a trading volume of 1,736,007 shares, compared to its average volume of 1,837,794. The stock's 50 day moving average is $62.20 and its 200 day moving average is $63.45. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79. Ball Co. has a twelve month low of $54.06 and a twelve month high of $71.32. The firm has a market capitalization of $17.38 billion, a PE ratio of 4.39, a PEG ratio of 1.44 and a beta of 0.91.
Ball (NYSE:BALL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Ball had a return on equity of 17.46% and a net margin of 34.05%. The company had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter in the prior year, the firm posted $0.83 EPS. Ball's quarterly revenue was down .9% compared to the same quarter last year. Equities analysts expect that Ball Co. will post 3.15 earnings per share for the current fiscal year.
Ball Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.20 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. Ball's dividend payout ratio is currently 6.03%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on BALL shares. Morgan Stanley raised Ball from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $69.00 to $78.00 in a report on Wednesday, September 4th. Wells Fargo & Company cut their price target on shares of Ball from $63.00 to $61.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Citigroup lifted their price objective on shares of Ball from $66.00 to $69.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $75.00 price objective on shares of Ball in a research note on Monday, November 4th. Finally, Mizuho upgraded shares of Ball from a "neutral" rating to an "outperform" rating and set a $67.00 target price for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.75.
Get Our Latest Analysis 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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