4,015 Shares in Ball Co. (NYSE:BALL) Acquired by Triangle Securities Wealth Management

Posted by Michael Walen on Mar 19th, 2023

Triangle Securities Wealth Management acquired a new position in shares of Ball Co. (NYSE:BALL – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,015 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors have also recently added to or reduced their stakes in BALL. Hennion & Walsh Asset Management Inc. purchased a new position in Ball during the third quarter worth approximately $514,000. Oppenheimer Asset Management Inc. acquired a new stake in Ball during the third quarter worth $1,403,000. Oppenheimer & Co. Inc. acquired a new stake in Ball during the third quarter worth $3,490,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Ball during the third quarter worth $2,522,000. Finally, ING Groep NV acquired a new stake in Ball during the third quarter worth $2,380,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BALL shares. UBS Group cut their target price on Ball from $64.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, December 15th. Mizuho raised their target price on Ball from $53.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. JPMorgan Chase & Co. raised their target price on Ball from $55.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 7th. Wells Fargo & Company lifted their price objective on Ball from $46.00 to $51.00 and gave the company an “underweight” rating in a research note on Friday, February 3rd. Finally, Citigroup lifted their price objective on Ball from $51.00 to $54.00 in a research note on Wednesday, January 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.31.

Ball Trading Down 1.2 %

BALL opened at $51.48 on Friday. Ball Co. has a 12 month low of $46.00 and a 12 month high of $94.79. The stock has a market capitalization of $16.19 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 3.38 and a beta of 0.78. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.78 and a quick ratio of 0.47. The business has a fifty day moving average price of $56.39 and a 200 day moving average price of $53.88.

Ball (NYSE:BALL – Get Rating) last released its earnings results on Thursday, February 2nd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.10). Ball had a return on equity of 24.47% and a net margin of 4.68%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Sell-side analysts expect that Ball Co. will post 3.08 earnings per share for the current fiscal year.

Ball Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Tuesday, February 28th. Ball’s dividend payout ratio (DPR) is 35.87%.

Insiders Place Their Bets

In other Ball news, Director John A. Hayes sold 100,000 shares of Ball stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $58.40, for a total transaction of $5,840,000.00. Following the completion of the sale, the director now directly owns 480,552 shares of the company’s stock, valued at approximately $28,064,236.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Ball Company Profile

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Ball Corp. provides metal packaging for beverages, foods, and household products. It operates through the following business segments: Beverage Packaging North and Central America, Beverage Packaging South America, Beverage Packaging Europe, Middle East and Africa (EMEA), and Aerospace. The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.