Oppenheimer & Co. Inc. Reduces Stock Holdings in Ball Corporation (NYSE:BALL)

Oppenheimer & Co. Inc. reduced its stake in shares of Ball Corporation (NYSE:BALL - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,923 shares of the company's stock after selling 6,818 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Ball were worth $2,808,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Ball during the 4th quarter valued at about $94,861,000. Charles Schwab Investment Management Inc. increased its holdings in Ball by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,891,046 shares of the company's stock worth $104,253,000 after purchasing an additional 36,809 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Ball by 53.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 38,289 shares of the company's stock worth $1,994,000 after purchasing an additional 13,262 shares during the last quarter. Aviva PLC increased its holdings in Ball by 63.4% during the 4th quarter. Aviva PLC now owns 523,765 shares of the company's stock worth $28,875,000 after purchasing an additional 203,298 shares during the last quarter. Finally, Nixon Capital LLC purchased a new stake in Ball during the 4th quarter worth approximately $956,000. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BALL shares. Truist Financial dropped their price objective on Ball from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Mizuho dropped their price objective on Ball from $63.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. UBS Group dropped their price objective on Ball from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Loop Capital dropped their price objective on Ball from $83.00 to $78.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Barclays dropped their price objective on Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.00.

Ball Price Performance

Shares of BALL opened at $57.02 on Friday. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 1.52 and a beta of 1.08. The stock has a 50 day moving average of $53.08 and a 200-day moving average of $52.68. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.10. Ball Corporation has a 52 week low of $43.51 and a 52 week high of $68.12.

Ball (NYSE:BALL - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $2.91 billion. Ball had a return on equity of 15.41% and a net margin of 4.18%. The business's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. As a group, analysts forecast that Ball Corporation will post 3.48 EPS for the current year.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. 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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