Reston Wealth Management LLC Takes Position in Ball Co. (NYSE:BALL)

Reston Wealth Management LLC acquired a new stake in Ball Co. (NYSE:BALL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,458 shares of the company’s stock, valued at approximately $99,000.

Several other large investors have also made changes to their positions in the business. US Bancorp DE boosted its holdings in shares of Ball by 7.9% in the 3rd quarter. US Bancorp DE now owns 18,009 shares of the company’s stock valued at $1,223,000 after acquiring an additional 1,323 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. boosted its holdings in Ball by 6.6% during the third quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 9,426 shares of the company’s stock worth $640,000 after buying an additional 585 shares in the last quarter. SteelPeak Wealth LLC purchased a new stake in Ball during the third quarter worth $2,331,000. State of Alaska Department of Revenue boosted its holdings in Ball by 4.6% during the third quarter. State of Alaska Department of Revenue now owns 35,266 shares of the company’s stock worth $2,394,000 after buying an additional 1,535 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Ball by 2.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 257,901 shares of the company’s stock worth $17,307,000 after buying an additional 6,070 shares in the last quarter. 86.51% of the stock is owned by hedge funds and other institutional investors.

Ball Price Performance

Shares of NYSE BALL opened at $59.25 on Friday. The firm has a 50-day simple moving average of $65.29 and a 200-day simple moving average of $65.05. The stock has a market capitalization of $17.99 billion, a price-to-earnings ratio of 4.47, a price-to-earnings-growth ratio of 1.63 and a beta of 0.88. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79. Ball Co. has a 52 week low of $46.95 and a 52 week high of $71.32.

Ball (NYSE:BALL) last issued its earnings results on Thursday, August 1st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Ball had a net margin of 32.79% and a return on equity of 19.45%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share. On average, equities analysts predict that Ball Co. will post 3.12 earnings per share for the current fiscal year.

Ball Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, December 2nd. Ball’s dividend payout ratio is currently 6.04%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BALL shares. Royal Bank of Canada lowered their price target on shares of Ball from $77.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Citigroup increased their price target on shares of Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. UBS Group increased their price target on shares of Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Truist Financial restated a “buy” rating and set a $78.00 price objective (up from $76.00) on shares of Ball in a research report on Friday, August 2nd. Finally, Morgan Stanley upgraded shares of Ball from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $69.00 to $78.00 in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.08.

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.