Addenda Capital Inc. Has $9.64 Million Stock Holdings in Ball Co. (NYSE:BALL)

Addenda Capital Inc. cut its stake in shares of Ball Co. (NYSE:BALL) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 143,037 shares of the company’s stock after selling 7,560 shares during the period. Addenda Capital Inc.’s holdings in Ball were worth $9,635,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BALL. Norges Bank bought a new stake in Ball in the fourth quarter valued at approximately $168,372,000. Boston Partners bought a new stake in Ball in the fourth quarter valued at approximately $109,022,000. Putnam Investments LLC raised 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 buying an additional 1,645,909 shares during the period. Parnassus Investments LLC raised its stake in Ball by 5.0% in the fourth quarter. Parnassus Investments LLC now owns 21,062,707 shares of the company’s stock valued at $1,211,527,000 after buying an additional 998,527 shares during the period. Finally, Mirova US LLC raised its stake in Ball by 49.2% in the fourth quarter. Mirova US LLC now owns 2,527,925 shares of the company’s stock valued at $145,406,000 after buying an additional 833,494 shares during the period. 86.51% of the stock is owned by institutional investors and hedge funds.

Ball Trading Down 1.7 %

Shares of NYSE:BALL traded down $1.06 during midday trading on Friday, reaching $60.02. The company’s stock had a trading volume of 4,820,773 shares, compared to its average volume of 2,000,419. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 4.52, a PEG ratio of 1.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.93 and a current ratio of 1.21. The firm has a 50 day moving average price of $67.33 and a two-hundred day moving average price of $63.24. Ball Co. has a fifty-two week low of $42.81 and a fifty-two week high of $71.32.

Ball (NYSE:BALL) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. Ball had a return on equity of 21.79% and a net margin of 31.42%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the business earned $0.69 EPS. The firm’s revenue was down 17.6% compared to the same quarter last year. As a group, analysts forecast that Ball Co. will post 3.09 earnings per share for the current year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Monday, June 3rd. Ball’s dividend payout ratio (DPR) is currently 6.02%.

Ball announced that its Board of Directors has approved a share repurchase program on Wednesday, April 24th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BALL. Wells Fargo & Company dropped their price objective on Ball from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. Mizuho increased their target price on Ball from $63.00 to $69.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Bank of America upgraded Ball from an “underperform” rating to a “buy” rating and increased their target price for the stock from $61.00 to $72.00 in a research note on Monday, March 4th. Royal Bank of Canada increased their target price on Ball from $74.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, TheStreet upgraded Ball from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $69.54.

Insider Buying and Selling

In related news, Director Pedro Henrique Mariani sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $69.90, for a total transaction of $349,500.00. Following the transaction, the director now directly owns 9,844 shares of the company’s stock, valued at approximately $688,095.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.81% of the stock is owned by company insiders.

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.