Wellington Management Group LLP Cuts Stock Holdings in Ball Co. (NYSE:BALL)

Wellington Management Group LLP lowered its holdings in Ball Co. (NYSE:BALL - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,250,769 shares of the company's stock after selling 426,452 shares during the quarter. Wellington Management Group LLP owned approximately 0.44% of Ball worth $68,955,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts have commented on BALL shares. Wells Fargo & Company boosted their price target on shares of Ball from $44.00 to $50.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 7th. Royal Bank of Canada upped their price objective on Ball from $62.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Truist Financial decreased their price objective on Ball from $65.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley decreased their price target on Ball from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Finally, Barclays decreased their price target 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 assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $61.00.

Ball Trading Up 0.1%

Shares of NYSE BALL traded up $0.03 during midday trading on Friday, hitting $53.58. The company's stock had a trading volume of 5,447,727 shares, compared to its average volume of 2,208,826. 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 business's 50 day moving average is $50.67 and its two-hundred day moving average is $53.46. Ball Co. has a 12-month low of $43.51 and a 12-month high of $70.07. The firm has a market cap of $14.86 billion, a P/E ratio of 4.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10.

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

Ball Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued 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 yield of 1.49%. Ball's 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.