Hsbc Holdings PLC Has $57.77 Million Stock Holdings in Ball Co. (NYSE:BALL)

Hsbc Holdings PLC lowered its holdings in shares of Ball Co. (NYSE:BALL) by 2.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 963,186 shares of the company’s stock after selling 27,520 shares during the period. Hsbc Holdings PLC’s holdings in Ball were worth $57,771,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Ball during the 4th quarter worth approximately $168,372,000. Boston Partners grew its holdings in Ball by 114.1% in the first quarter. Boston Partners now owns 4,057,645 shares of the company’s stock worth $273,347,000 after purchasing an additional 2,162,167 shares during the period. Putnam Investments LLC increased its stake in Ball by 39.5% in the fourth quarter. Putnam Investments LLC now owns 5,815,825 shares of the company’s stock valued at $334,526,000 after purchasing an additional 1,645,909 shares in the last quarter. Parnassus Investments LLC raised its holdings in shares of Ball by 5.0% during the fourth quarter. Parnassus Investments LLC now owns 21,062,707 shares of the company’s stock valued at $1,211,527,000 after purchasing an additional 998,527 shares during the period. Finally, M&G Plc bought a new position in shares of Ball during the 1st quarter worth about $50,193,000. 86.51% of the stock is currently owned by institutional investors.

Ball Stock Performance

Shares of Ball stock opened at $67.11 on Friday. The business’s fifty day simple moving average is $63.59 and its 200 day simple moving average is $65.12. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. Ball Co. has a 12 month low of $42.81 and a 12 month high of $71.32. The firm has a market capitalization of $20.83 billion, a P/E ratio of 5.05, a price-to-earnings-growth ratio of 1.64 and a beta of 0.88.

Ball (NYSE:BALL) last released its earnings results on Thursday, August 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Ball had a return on equity of 19.45% and a net margin of 32.79%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. As a group, analysts anticipate that Ball Co. will post 3.12 EPS for the current year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Tuesday, September 3rd. Ball’s payout ratio is 6.02%.

Analyst Upgrades and Downgrades

BALL has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on Ball from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 17th. Citigroup lowered their target price on Ball from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday, July 8th. Robert W. Baird raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Wednesday, August 14th. Baird R W raised shares of Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, Truist Financial restated a “buy” rating and issued a $78.00 target price (up previously from $76.00) on shares of Ball in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.83.

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.