Kingswood Wealth Advisors LLC Invests $704,000 in Ball Co. (NYSE:BALL)

02 Jan 2024, 14:10 by Danessa Lincoln · The Markets Daily

Kingswood Wealth Advisors LLC acquired a new position in shares of Ball Co. (NYSE:BALL – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 14,143 shares of the company’s stock, valued at approximately $704,000.

Several other large investors have also modified their holdings of the stock. Parnassus Investments LLC lifted its holdings in shares of Ball by 0.7% during the 2nd quarter. Parnassus Investments LLC now owns 20,340,826 shares of the company’s stock worth $1,184,039,000 after acquiring an additional 136,629 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ball by 66.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,830,193 shares of the company’s stock worth $817,294,000 after acquiring an additional 5,903,021 shares during the period. State Street Corp lifted its holdings in shares of Ball by 1.2% during the 2nd quarter. State Street Corp now owns 13,952,287 shares of the company’s stock worth $812,163,000 after acquiring an additional 169,166 shares during the period. Morgan Stanley lifted its holdings in shares of Ball by 17.7% during the 4th quarter. Morgan Stanley now owns 7,979,673 shares of the company’s stock worth $408,081,000 after acquiring an additional 1,200,145 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Ball by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 6,700,954 shares of the company’s stock worth $368,473,000 after acquiring an additional 37,672 shares during the period. 84.79% of the stock is currently owned by hedge funds and other institutional investors.

Ball Stock Down 0.7 %

BALL stock opened at $57.52 on Tuesday. Ball Co. has a twelve month low of $42.81 and a twelve month high of $62.14. The company has a market capitalization of $18.14 billion, a P/E ratio of 29.96, a PEG ratio of 3.96 and a beta of 0.90. The company has a current ratio of 0.81, a quick ratio of 0.55 and a debt-to-equity ratio of 1.87. The firm has a 50 day simple moving average of $53.64 and a 200-day simple moving average of $53.49.

Ball (NYSE:BALL – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. Ball had a net margin of 4.29% and a return on equity of 21.44%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.88 billion. On average, equities research analysts predict that Ball Co. will post 2.9 earnings per share for the current fiscal year.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Thursday, November 30th. Ball’s dividend payout ratio is currently 41.67%.

Insider Activity at Ball

In related news, COO Ronald J. Lewis acquired 4,637 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were acquired at an average cost of $53.91 per share, for a total transaction of $249,980.67. Following the completion of the purchase, the chief operating officer now directly owns 29,797 shares in the company, valued at $1,606,356.27. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on BALL shares. Mizuho raised their price target on shares of Ball from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, December 28th. Credit Suisse Group lowered shares of Ball from an “outperform” rating to a “neutral” rating and cut their price target for the company from $65.00 to $58.00 in a report on Wednesday, September 13th. Wells Fargo & Company cut their price target on shares of Ball from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 19th. Jefferies Financial Group cut their price target on shares of Ball from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, October 18th. Finally, Bank of America lowered shares of Ball from a “neutral” rating to an “underperform” rating and cut their price target for the company from $61.00 to $59.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Ball presently has an average rating of “Hold” and an average target price of $58.33.

Read Our Latest Stock Analysis on BALL

Ball Profile

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