Addenda Capital Inc. Decreases Position in Ball Co. (NYSE:BALL)

Addenda Capital Inc. cut its holdings in shares of Ball Co. (NYSE:BALL - Free Report) by 31.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,828 shares of the company's stock after selling 47,701 shares during the period. Addenda Capital Inc.'s holdings in Ball were worth $5,458,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BALL. Czech National Bank boosted its position in shares of Ball by 5.9% during the 1st quarter. Czech National Bank now owns 68,550 shares of the company's stock valued at $3,569,000 after purchasing an additional 3,845 shares in the last quarter. 180 Wealth Advisors LLC grew its position in shares of Ball by 6.1% during the 1st quarter. 180 Wealth Advisors LLC now owns 36,280 shares of the company's stock worth $1,889,000 after buying an additional 2,092 shares during the period. Rhumbline Advisers increased its stake in shares of Ball by 7.1% in the 1st quarter. Rhumbline Advisers now owns 601,572 shares of the company's stock valued at $31,324,000 after acquiring an additional 39,721 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Ball during the 1st quarter valued at $206,000. Finally, GAMMA Investing LLC boosted its stake in Ball by 5,420.9% during the first quarter. GAMMA Investing LLC now owns 200,574 shares of the company's stock worth $10,444,000 after acquiring an additional 196,941 shares in the last quarter. 86.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Ball from $44.00 to $50.00 and gave the company an "underweight" rating in a research note on Wednesday, May 7th. Robert W. Baird lowered their price objective on Ball from $70.00 to $63.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Loop Capital reduced their target price on Ball from $83.00 to $78.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Morgan Stanley dropped their price objective on Ball from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Finally, Mizuho cut their target price on shares of Ball from $63.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ball presently has a consensus rating of "Moderate Buy" and an average price target of $61.00.

Ball Price Performance

Shares of BALL traded up $0.40 during midday trading on Thursday, reaching $53.64. The stock had a trading volume of 648,541 shares, compared to its average volume of 2,200,449. Ball Co. has a 12-month low of $43.51 and a 12-month high of $70.07. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.90. The company's 50-day moving average is $50.75 and its 200 day moving average is $53.28. The company has a market capitalization of $14.88 billion, a price-to-earnings ratio of 4.24, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08.

Ball (NYSE:BALL - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Ball had a net margin of 33.98% and a return on equity of 16.17%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the business earned $0.68 earnings per share. The business's revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that Ball Co. will post 3.48 EPS for the current fiscal year.

Ball Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. Ball's payout ratio is 47.62%.

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.