Raymond James Trust N.A. Increases Position in Ball Co. (NYSE:BALL)

Raymond James Trust N.A. lifted its holdings in shares of Ball Co. (NYSE:BALL) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,994 shares of the company’s stock after purchasing an additional 444 shares during the quarter. Raymond James Trust N.A.’s holdings in Ball were worth $4,074,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in Ball in the third quarter valued at $30,000. Catalyst Capital Advisors LLC acquired a new position in shares of Ball in the 3rd quarter valued at about $47,000. Friedenthal Financial purchased a new stake in shares of Ball during the 2nd quarter worth about $47,000. Quarry LP grew its holdings in shares of Ball by 598.6% during the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock worth $60,000 after purchasing an additional 856 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Ball by 29.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock worth $69,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Ball from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Morgan Stanley raised shares of Ball from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $69.00 to $78.00 in a research report on Wednesday, September 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price target on shares of Ball in a report on Monday, November 4th. Truist Financial restated a “buy” rating and set a $78.00 price objective (up previously from $76.00) on shares of Ball in a research note on Friday, August 2nd. Finally, Mizuho lowered their target price on Ball from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ball has an average rating of “Moderate Buy” and a consensus price target of $70.75.

Ball Stock Performance

Shares of BALL opened at $61.86 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. Ball Co. has a 52-week low of $53.57 and a 52-week high of $71.32. The business’s 50 day moving average is $64.08 and its two-hundred day moving average is $64.37. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of 4.67, a PEG ratio of 1.50 and a beta of 0.90.

Ball (NYSE:BALL) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.13 billion. Ball had a return on equity of 17.46% and a net margin of 34.05%. Ball’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. Analysts forecast that Ball Co. will post 3.15 EPS for the current fiscal year.

Ball Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.20 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Ball’s payout ratio is currently 6.03%.

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.