Envestnet Asset Management Inc. Sells 10,858 Shares of Ball Corporation (NYSE:BALL)

Envestnet Asset Management Inc. cut its stake in shares of Ball Corporation (NYSE:BALL) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 342,672 shares of the company’s stock after selling 10,858 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of Ball worth $17,843,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in shares of Ball by 11.6% during the 4th quarter. Franklin Resources Inc. now owns 7,758,604 shares of the company’s stock valued at $427,732,000 after purchasing an additional 803,728 shares during the period. Invesco Ltd. lifted its holdings in Ball by 25.3% in the 4th quarter. Invesco Ltd. now owns 4,159,436 shares of the company’s stock worth $229,310,000 after purchasing an additional 840,357 shares in the last quarter. Norges Bank purchased a new position in Ball in the 4th quarter worth approximately $190,105,000. Dimensional Fund Advisors LP raised its holdings in shares of Ball by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,055,441 shares of the company’s stock worth $168,447,000 after acquiring an additional 367,798 shares in the last quarter. Finally, London Co. of Virginia raised its holdings in shares of Ball by 61.1% during the 4th quarter. London Co. of Virginia now owns 3,054,393 shares of the company’s stock worth $168,389,000 after acquiring an additional 1,158,668 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors.

Ball Stock Down 0.3%

Shares of NYSE BALL opened at $58.10 on Friday. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.63 and a beta of 1.08. Ball Corporation has a 1 year low of $43.51 and a 1 year high of $68.12. The stock’s 50-day simple moving average is $55.35 and its 200-day simple moving average is $52.83. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.04.

Ball (NYSE:BALL) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. Ball had a return on equity of 15.41% and a net margin of 4.18%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.20 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. Ball’s payout ratio is currently 47.62%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho boosted their target price on Ball from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on shares of Ball from $44.00 to $50.00 and gave the company an “underweight” rating in a research report on Wednesday, May 7th. Bank of America reiterated a “neutral” rating and issued a $66.00 price target (down from $67.00) on shares of Ball in a research note on Wednesday, July 9th. Citigroup raised their price objective on Ball from $55.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 3rd. Finally, Truist Financial raised their target price on Ball from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ball presently has an average rating of “Moderate Buy” and a consensus price target of $64.27.

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.