New York State Common Retirement Fund Sells 58,431 Shares of Ball Co. (NYSE:BALL)

New York State Common Retirement Fund reduced its stake in shares of Ball Co. (NYSE:BALL) by 14.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 335,842 shares of the company’s stock after selling 58,431 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Ball worth $22,807,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. TD Asset Management Inc increased its stake in Ball by 4.2% during the first quarter. TD Asset Management Inc now owns 1,453,639 shares of the company’s stock worth $97,917,000 after acquiring an additional 58,863 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Ball by 306.6% during the second quarter. QRG Capital Management Inc. now owns 31,750 shares of the company’s stock valued at $1,906,000 after buying an additional 23,941 shares during the last quarter. Addenda Capital Inc. grew its stake in shares of Ball by 7.3% during the second quarter. Addenda Capital Inc. now owns 153,464 shares of the company’s stock valued at $9,211,000 after buying an additional 10,427 shares during the last quarter. Hemenway Trust Co LLC bought a new position in shares of Ball during the first quarter valued at approximately $6,787,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Ball by 5.8% during the first quarter. Russell Investments Group Ltd. now owns 669,904 shares of the company’s stock valued at $45,122,000 after buying an additional 36,749 shares during the last quarter. 86.51% of the stock is owned by institutional investors.

Ball Stock Up 0.8 %

Ball stock opened at $59.46 on Tuesday. The business has a fifty day moving average of $65.08 and a two-hundred day moving average of $64.99. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. The firm has a market cap of $18.05 billion, a P/E ratio of 4.48, a P/E/G ratio of 1.50 and a beta of 0.90. Ball Co. has a twelve month low of $48.05 and a twelve month high of $71.32.

Ball (NYSE:BALL) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Ball had a return on equity of 17.46% and a net margin of 34.05%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. Ball’s revenue was down .9% on a year-over-year basis. On average, analysts forecast that Ball Co. will post 3.12 earnings per share for the current fiscal year.

Ball Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. Ball’s dividend payout ratio is presently 6.03%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BALL. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Ball in a research note on Monday. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Truist Financial reissued a “buy” rating and issued a $78.00 price objective (up previously from $76.00) on shares of Ball in a research note on Friday, August 2nd. Wells Fargo & Company dropped their price objective on Ball from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Citigroup increased their price objective on Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.75.

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.