Ball Co. (NYSE:BALL) Position Cut by Bar Harbor Wealth Management

Bar Harbor Wealth Management trimmed its stake in Ball Co. (NYSE:BALL) by 0.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 64,496 shares of the company’s stock after selling 570 shares during the quarter. Bar Harbor Wealth Management’s holdings in Ball were worth $4,380,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Independence Bank of Kentucky bought a new stake in shares of Ball during the first quarter valued at about $47,000. Friedenthal Financial bought a new stake in shares of Ball during the second quarter valued at about $47,000. Quarry LP raised its stake in shares of Ball by 598.6% during the second quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after purchasing an additional 856 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Ball by 334.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock worth $68,000 after acquiring an additional 815 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Ball during the second quarter worth about $72,000. 86.51% of the stock is currently owned by institutional investors.

Ball Stock Down 0.7 %

Shares of Ball stock opened at $66.81 on Friday. The firm has a market cap of $20.74 billion, a price-to-earnings ratio of 5.03, a P/E/G ratio of 1.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.18 and a quick ratio of 0.88. Ball Co. has a 52-week low of $42.81 and a 52-week high of $71.32. The stock has a 50-day simple moving average of $65.00 and a 200-day simple moving average of $65.21.

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 business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company earned $0.61 EPS. The firm’s revenue was down 3.5% on a year-over-year basis. On average, equities research analysts expect that Ball Co. will post 3.12 earnings per share for the current fiscal year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Tuesday, September 3rd. Ball’s payout ratio is presently 6.02%.

Wall Street Analyst Weigh In

BALL has been the topic of a number of research analyst reports. Morgan Stanley raised Ball from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $69.00 to $78.00 in a report on Wednesday, September 4th. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Wells Fargo & Company lifted their target price on Ball from $61.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank of Canada lowered their target price on Ball from $77.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Citigroup lifted their target price on Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.08.

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.