Ball Corporation $BALL Stock: Retirement Systems of Alabama Grows Position

Retirement Systems of Alabama raised its stake in shares of Ball Corporation (NYSE:BALL) by 117.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 121,674 shares of the company’s stock after purchasing an additional 65,742 shares during the period. Retirement Systems of Alabama’s holdings in Ball were worth $6,817,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BALL. Pension & Wealth Management Advisors Inc. purchased a new position in shares of Ball during the 3rd quarter valued at $25,000. Basecamp Wealth Advisors LLC raised its holdings in shares of Ball by 135.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 477 shares of the company’s stock worth $28,000 after acquiring an additional 274 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Ball during the second quarter worth $30,000. Manchester Capital Management LLC raised its holdings in shares of Ball by 87.9% during the third quarter. Manchester Capital Management LLC now owns 592 shares of the company’s stock worth $33,000 after acquiring an additional 277 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in Ball during the second quarter valued at $37,000. Institutional investors and hedge funds own 86.51% of the company’s stock.

Ball Stock Up 0.7%

Shares of BALL stock traded up $0.48 on Friday, hitting $65.39. The company’s stock had a trading volume of 1,191,090 shares, compared to its average volume of 2,498,071. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 1.42 and a beta of 0.94. Ball Corporation has a fifty-two week low of $46.65 and a fifty-two week high of $69.57. The firm’s fifty day moving average price is $61.65 and its 200-day moving average price is $61.34. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.04 and a quick ratio of 0.64.

Ball (NYSE:BALL) last posted its earnings results on Tuesday, November 3rd. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.78 billion. Ball had a net margin of 3.52% and a return on equity of 18.81%. The business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. Research analysts anticipate that Ball Corporation will post 4.00 EPS for the current year.

Ball Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. Ball’s payout ratio is currently 40.20%.

Insider Buying and Selling at Ball

In other news, SVP Mandy Glew sold 5,626 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $63.80, for a total transaction of $358,938.80. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $459,934.20. This represents a 43.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup boosted their target price on Ball from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Royal Bank Of Canada raised their price target on Ball from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Weiss Ratings downgraded Ball from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, November 4th. Mizuho lifted their price target on Ball from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, November 4th. Finally, UBS Group boosted their price target on Ball from $63.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.15.

Ball Company Profile

Ball Corporation is a global supplier of aluminum packaging, best known for making beverage cans and ends for beverage companies. Its products are used for a range of drinks, including beer, soft drinks, energy drinks and other beverages. The company also offers aluminum cups and other specialty packaging products. Ball serves customers across North America, South America, Europe, the Middle East, Africa and Asia. Its packaging operations support beverage brands and producers with manufacturing capabilities in multiple regions.