Allspring Global Investments Holdings LLC Sells 598 Shares of Ball Co. (NYSE:BALL)

Allspring Global Investments Holdings LLC lowered its position in Ball Co. (NYSE:BALL) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,628 shares of the company’s stock after selling 598 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ball were worth $899,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Ball by 1.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,853,923 shares of the company’s stock worth $291,408,000 after purchasing an additional 72,585 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Ball by 3.8% during the third quarter. Northern Trust Corp now owns 3,138,780 shares of the company’s stock valued at $156,248,000 after buying an additional 115,133 shares during the last quarter. Jensen Investment Management Inc. increased its position in shares of Ball by 3.1% during the third quarter. Jensen Investment Management Inc. now owns 3,126,992 shares of the company’s stock worth $155,662,000 after acquiring an additional 95,415 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Ball by 9.3% in the 3rd quarter. Invesco Ltd. now owns 2,764,571 shares of the company’s stock worth $137,620,000 after acquiring an additional 234,363 shares during the last quarter. Finally, FMR LLC lifted its position in Ball by 1.5% in the 3rd quarter. FMR LLC now owns 2,577,015 shares of the company’s stock valued at $128,284,000 after acquiring an additional 37,492 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

Insider Activity at Ball

In other Ball news, insider Daniel William Fisher acquired 3,869 shares of Ball stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $64.56 per share, for a total transaction of $249,782.64. Following the purchase, the insider now owns 111,866 shares of the company’s stock, valued at $7,222,068.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Ball Trading Up 0.1 %

Shares of BALL stock opened at $65.50 on Wednesday. Ball Co. has a 12-month low of $42.81 and a 12-month high of $67.97. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.96. The company has a 50 day moving average of $64.84 and a 200-day moving average of $57.68. The firm has a market cap of $20.67 billion, a P/E ratio of 29.24, a PEG ratio of 4.20 and a beta of 0.89.

Ball (NYSE:BALL) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Ball had a return on equity of 23.81% and a net margin of 5.04%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. Sell-side analysts anticipate that Ball Co. will post 3.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on BALL. Mizuho boosted their price objective on Ball to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. TheStreet upgraded Ball from a “c+” rating to a “b-” rating in a report on Friday, March 8th. Jefferies Financial Group raised their price objective on Ball from $69.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Bank of America upgraded shares of Ball from an “underperform” rating to a “buy” rating and upped their target price for the stock from $61.00 to $72.00 in a research note on Monday, March 4th. Finally, Wells Fargo & Company raised their price target on shares of Ball from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.58.

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.