Bank of New York Mellon Corp Reduces Stock Holdings in Ball Corporation (NYSE:BALL)

Bank of New York Mellon Corp lowered its stake in shares of Ball Corporation (NYSE:BALL - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,959,372 shares of the company's stock after selling 77,702 shares during the period. Bank of New York Mellon Corp owned 0.69% of Ball worth $102,024,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in Ball by 11.6% in the fourth quarter. Franklin Resources Inc. now owns 7,758,604 shares of the company's stock valued at $427,732,000 after acquiring an additional 803,728 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Ball by 25.3% during the fourth 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 during the period. Norges Bank purchased a new stake in shares of Ball during the fourth quarter worth about $190,105,000. Dimensional Fund Advisors LP lifted its holdings in Ball by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,055,441 shares of the company's stock worth $168,447,000 after buying an additional 367,798 shares during the period. Finally, London Co. of Virginia lifted its holdings in Ball by 61.1% in the fourth quarter. London Co. of Virginia now owns 3,054,393 shares of the company's stock worth $168,389,000 after buying an additional 1,158,668 shares during the period. Hedge funds and other institutional investors own 86.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BALL shares. Royal Bank Of Canada raised their target price on shares of Ball from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Citigroup lifted their price target on shares of Ball from $55.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Bank of America restated a "neutral" rating and set a $66.00 target price (down previously from $67.00) on shares of Ball in a research note on Wednesday. Barclays decreased their price target on shares of Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 14th. Finally, Truist Financial cut their price target on shares of Ball from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.36.

Ball Trading Down 1.3%

NYSE:BALL opened at $57.99 on Thursday. Ball Corporation has a 52 week low of $43.51 and a 52 week high of $68.12. The firm has a 50 day moving average of $54.55 and a 200 day moving average of $52.73. The company has a quick ratio of 0.70, a current ratio of 1.04 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $16.09 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 1.58 and a beta of 1.08.

Ball (NYSE:BALL - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.07. Ball had a net margin of 4.18% and a return on equity of 15.41%. The company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $2.91 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Ball's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Announces Dividend

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

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