Skandinaviska Enskilda Banken AB publ Acquires 600 Shares of Ball Co. (NYSE:BALL)

Skandinaviska Enskilda Banken AB publ grew its stake in Ball Co. (NYSE:BALL) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,977 shares of the company’s stock after purchasing an additional 600 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Ball were worth $4,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BALL. Independence Bank of Kentucky bought a new stake in shares of Ball in the first quarter worth $47,000. Friedenthal Financial bought a new stake in Ball during the second quarter worth $47,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Ball in the second quarter valued at about $72,000. Deseret Mutual Benefit Administrators grew its position in Ball by 17.0% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock worth $77,000 after purchasing an additional 186 shares in the last quarter. Finally, Homestead Advisers Corp increased its position in shares of Ball by 46.7% during the fourth quarter. Homestead Advisers Corp now owns 1,577 shares of the company’s stock valued at $91,000 after acquiring an additional 502 shares during the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on BALL shares. Baird R W raised shares of Ball from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 14th. Truist Financial reissued a “buy” rating and set a $78.00 price objective (up previously from $76.00) on shares of Ball in a report on Friday, August 2nd. 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 report on Wednesday, August 14th. Royal Bank of Canada decreased their price objective on shares of Ball from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Wells Fargo & Company reduced their target price on Ball from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.83.

Ball Price Performance

BALL opened at $66.31 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $63.70 and a two-hundred day simple moving average of $65.15. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 4.99, a price-to-earnings-growth ratio of 1.64 and a beta of 0.88. Ball Co. has a 12-month low of $42.81 and a 12-month high of $71.32.

Ball (NYSE:BALL) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. Ball had a return on equity of 19.45% and a net margin of 32.79%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Research analysts predict that Ball Co. will post 3.12 earnings per share for the current fiscal year.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Tuesday, September 3rd. Ball’s dividend payout ratio (DPR) is currently 6.02%.

Ball 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.