Allspring Global Investments Holdings LLC Sells 598 Shares of Ball Co. (NYSE:BALL)

Allspring Global Investments Holdings LLC trimmed its position in Ball Co. (NYSE:BALL) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,628 shares of the company’s stock after selling 598 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ball were worth $899,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators raised its stake in shares of Ball by 80.4% during the third quarter. Deseret Mutual Benefit Administrators now owns 572 shares of the company’s stock worth $28,000 after buying an additional 255 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Ball during the 3rd quarter valued at $29,000. Exchange Traded Concepts LLC acquired a new position in shares of Ball in the 3rd quarter valued at $31,000. Castleview Partners LLC bought a new position in shares of Ball in the 3rd quarter worth $46,000. Finally, Ancora Advisors LLC boosted its position in shares of Ball by 40.0% in the 3rd quarter. Ancora Advisors LLC now owns 1,053 shares of the company’s stock worth $52,000 after purchasing an additional 301 shares during the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ball

In other Ball news, insider Daniel William Fisher purchased 3,869 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $64.56 per share, with a total value of $249,782.64. Following the transaction, the insider now directly owns 111,866 shares of the company’s stock, valued at approximately $7,222,068.96. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BALL shares. UBS Group assumed coverage on Ball in a research note on Tuesday, January 16th. They issued a “sell” rating and a $55.00 target price on the stock. Morgan Stanley started coverage on shares of Ball in a report on Monday, March 18th. They set an “equal weight” rating and a $68.00 price objective for the company. Bank of America upgraded shares of Ball from an “underperform” rating to a “buy” rating and increased their target price for the stock from $61.00 to $72.00 in a report on Monday, March 4th. Wells Fargo & Company boosted their price target on shares of Ball from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, March 18th. Finally, Mizuho raised their price objective on Ball to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.58.

Ball Stock Up 0.1 %

BALL stock opened at $65.50 on Wednesday. The business has a 50-day moving average of $64.84 and a 200-day moving average of $57.68. Ball Co. has a fifty-two week low of $42.81 and a fifty-two week high of $67.97. The stock has a market capitalization of $20.67 billion, a P/E ratio of 29.24, a P/E/G ratio of 4.20 and a beta of 0.89. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.79 and a quick ratio of 0.54.

Ball (NYSE:BALL) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.56 billion. Ball had a return on equity of 23.81% and a net margin of 5.04%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, sell-side analysts anticipate that Ball Co. will post 3.09 earnings per share for the current fiscal year.

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.