Mackenzie Financial Corp Trims Stake in Ball Co. (NYSE:BALL)

Mackenzie Financial Corp reduced its position in Ball Co. (NYSE:BALL) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,440 shares of the company’s stock after selling 1,831 shares during the quarter. Mackenzie Financial Corp owned 0.05% of Ball worth $9,689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BALL. Quarry LP grew its stake in Ball by 446.3% in the 2nd quarter. Quarry LP now owns 448 shares of the company’s stock worth $26,000 after acquiring an additional 366 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in Ball in the 4th quarter worth about $26,000. Covington Capital Management bought a new position in Ball in the 3rd quarter worth about $26,000. Deseret Mutual Benefit Administrators grew its stake in Ball by 80.4% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 572 shares of the company’s stock worth $28,000 after acquiring an additional 255 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Ball in the 3rd quarter worth about $29,000. 86.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on BALL shares. Truist Financial restated a “hold” rating and issued a $60.00 target price on shares of Ball in a research note on Friday, April 12th. TheStreet upgraded shares of Ball from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. Wells Fargo & Company upped their target price on shares of Ball from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, March 18th. Citigroup initiated coverage on shares of Ball in a research note on Wednesday, March 27th. They set a “neutral” rating and a $70.00 price objective on the stock. Finally, Barclays reiterated an “equal weight” rating and set a $71.00 price objective (up from $66.00) on shares of Ball in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.58.

Insider Buying and Selling at Ball

In other news, insider Daniel William Fisher bought 3,869 shares of the stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $64.56 per share, for a total transaction of $249,782.64. Following the completion of the purchase, the insider now directly owns 111,866 shares in the company, valued at $7,222,068.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by insiders.

Ball Price Performance

Shares of BALL opened at $64.95 on Friday. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 29.00, a price-to-earnings-growth ratio of 4.11 and a beta of 0.89. Ball Co. has a twelve month low of $42.81 and a twelve month high of $67.97. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.96. The company has a 50 day moving average of $64.63 and a two-hundred day moving average of $57.30.

Ball (NYSE:BALL) last announced its earnings results on Thursday, February 1st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.56 billion. Ball had a net margin of 5.04% and a return on equity of 23.81%. Ball’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. As a group, analysts predict that Ball Co. will post 3.11 earnings per share for the current fiscal year.

Ball Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.20 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.80 annualized dividend and a yield of 1.23%. Ball’s dividend payout ratio (DPR) is 35.71%.

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.