Carnegie Capital Asset Management LLC Cuts Stock Position in Ball Co. (NYSE:BALL)

Carnegie Capital Asset Management LLC cut its holdings in shares of Ball Co. (NYSE:BALL) by 22.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,303 shares of the company’s stock after selling 10,498 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Ball were worth $2,031,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BALL. Quilter Plc bought a new position in shares of Ball during the 1st quarter worth $401,172,000. Quarry LP boosted its position in Ball by 446.3% during the second quarter. Quarry LP now owns 448 shares of the company’s stock worth $26,000 after purchasing an additional 366 shares during the period. Tyler Stone Wealth Management purchased a new position in shares of Ball in the second quarter worth about $29,000. Resurgent Financial Advisors LLC bought a new stake in shares of Ball in the fourth quarter valued at approximately $26,000. Finally, Covington Capital Management bought a new position in Ball in the 3rd quarter worth approximately $26,000. 86.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BALL has been the topic of several recent research reports. UBS Group assumed coverage on Ball in a research report on Tuesday, January 16th. They set a “sell” rating and a $55.00 target price on the stock. Jefferies Financial Group increased their target price on shares of Ball from $69.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and issued a $60.00 price target on shares of Ball in a report on Friday. TheStreet raised Ball from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. Finally, Wells Fargo & Company boosted their target price on Ball from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.58.

Ball Price Performance

Shares of BALL opened at $64.60 on Tuesday. The company has a market capitalization of $20.39 billion, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 4.22 and a beta of 0.89. Ball Co. has a twelve month low of $42.81 and a twelve month high of $67.97. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of $64.17 and a 200 day moving average of $56.99.

Ball (NYSE:BALL) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. Ball had a return on equity of 23.81% and a net margin of 5.04%. The firm had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Ball Co. will post 3.11 earnings per share for the current fiscal year.

Ball Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, February 29th. Ball’s payout ratio is presently 35.71%.

Insider Transactions at Ball

In related news, insider Daniel William Fisher acquired 3,869 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $64.56 per share, for a total transaction of $249,782.64. Following the completion of the transaction, the insider now directly owns 111,866 shares in the company, valued at $7,222,068.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.81% of the company’s stock.

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.