Maryland State Retirement & Pension System Purchases 22,837 Shares of Ball Corporation $BALL

Maryland State Retirement & Pension System lifted its position in Ball Corporation (NYSE:BALL) by 165.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,633 shares of the company’s stock after acquiring an additional 22,837 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Ball were worth $2,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pension & Wealth Management Advisors Inc. purchased a new stake in Ball in the third quarter worth about $25,000. Basecamp Wealth Advisors LLC grew its holdings in Ball by 135.0% during the 1st 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. Fairscale Capital LLC purchased a new position in Ball during the 3rd quarter valued at about $28,000. Ancora Advisors LLC purchased a new position in Ball during the 2nd quarter valued at about $30,000. Finally, Manchester Capital Management LLC increased its position in Ball by 87.9% during the 3rd quarter. Manchester Capital Management LLC now owns 592 shares of the company’s stock valued at $33,000 after purchasing an additional 277 shares during the period. 86.51% of the stock is currently owned by institutional investors.

Ball Stock Up 0.7%

Shares of NYSE BALL traded up $0.48 during mid-day trading on Friday, reaching $65.39. 1,191,090 shares of the company were exchanged, compared to its average volume of 2,498,071. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 1.11. The stock has a market cap 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 1 year low of $46.65 and a 1 year high of $69.57. The firm has a 50-day moving average of $61.65 and a 200 day moving average of $61.34.

Ball (NYSE:BALL) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. Ball had a return on equity of 18.81% and a net margin of 3.52%. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, research analysts expect that Ball Corporation will post 4.00 earnings per share for the current year.

Ball Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Ball’s dividend payout ratio is presently 40.20%.

Insider Activity at Ball

In other news, SVP Mandy Glew sold 5,626 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $63.80, for a total value of $358,938.80. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $459,934.20. This trade represents a 43.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered shares of Ball from an “overweight” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Wednesday, November 4th. Wells Fargo & Company dropped their price objective on shares of Ball from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Royal Bank Of Canada lifted their price objective on shares of Ball from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Mizuho boosted their price objective on shares of Ball from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 4th. Finally, Truist Financial reissued a “buy” rating and issued a $76.00 price objective (down from $78.00) on shares of Ball in a research note on Wednesday, November 4th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Ball has an average rating of “Moderate Buy” and a consensus price target of $72.15.

About Ball

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.