Envestnet Asset Management Inc. Raises Holdings in Ball Co. (NYSE:BALL)

Envestnet Asset Management Inc. boosted its stake in shares of Ball Co. (NYSE:BALL) by 5.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 453,999 shares of the company’s stock after acquiring an additional 24,352 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of Ball worth $25,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Macquarie Group Ltd. bought a new position in Ball during the 3rd quarter valued at approximately $533,000. Commonwealth Equity Services LLC bought a new position in Ball during the 3rd quarter valued at approximately $1,319,000. First Trust Advisors LP bought a new position in Ball during the 3rd quarter valued at approximately $2,863,000. Pathstone Family Office LLC bought a new position in Ball during the 3rd quarter valued at approximately $621,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Ball during the 3rd quarter valued at approximately $1,181,000. 84.79% of the stock is currently owned by hedge funds and other institutional investors.

Ball Stock Up 0.1 %

BALL stock opened at $54.48 on Friday. The business has a 50 day moving average of $56.34 and a 200 day moving average of $55.01. The company has a quick ratio of 0.50, a current ratio of 0.78 and a debt-to-equity ratio of 1.92. Ball Co. has a twelve month low of $46.00 and a twelve month high of $62.14. The firm has a market cap of $17.16 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 3.47 and a beta of 0.80.

Ball (NYSE:BALL) last issued its earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. Ball had a return on equity of 21.43% and a net margin of 5.48%. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period last year, the business posted $0.82 EPS. The company’s revenue was down 13.7% compared to the same quarter last year. On average, research analysts forecast that Ball Co. will post 3.03 EPS for the current fiscal year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.47%. Ball’s dividend payout ratio (DPR) is currently 31.75%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on Ball from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 10th. Jefferies Financial Group increased their target price on Ball from $59.00 to $61.00 in a research report on Tuesday, July 18th. Wells Fargo & Company raised Ball from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $52.00 to $55.00 in a research report on Tuesday, June 20th. Citigroup increased their target price on Ball from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Finally, Bank of America lowered Ball from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $65.00 to $63.00 in a research report on Monday, July 10th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.60.

Insider Transactions at Ball

In other news, VP Deron Goodwin sold 500 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $52.85, for a total value of $26,425.00. Following the transaction, the vice president now directly owns 12,001 shares in the company, valued at approximately $634,252.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider David A. Kaufman sold 3,820 shares of Ball stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $52.41, for a total transaction of $200,206.20. Following the transaction, the insider now directly owns 8,861 shares in the company, valued at $464,405.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Deron Goodwin sold 500 shares of Ball stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $52.85, for a total value of $26,425.00. Following the transaction, the vice president now owns 12,001 shares in the company, valued at $634,252.85. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Ball Company Profile

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.