Fragasso Financial Advisors Inc Sells 1,033 Shares of Ball Co. (NYSE:BALL)

Fragasso Financial Advisors Inc trimmed its position in shares of Ball Co. (NYSE:BALL) by 8.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,274 shares of the company’s stock after selling 1,033 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Ball were worth $677,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Friedenthal Financial bought a new stake in Ball during the 4th quarter valued at about $43,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Ball in the fourth quarter valued at approximately $43,000. NBC Securities Inc. boosted its holdings in shares of Ball by 31.0% in the fourth quarter. NBC Securities Inc. now owns 769 shares of the company’s stock valued at $44,000 after purchasing an additional 182 shares during the period. Independence Bank of Kentucky bought a new position in Ball in the first quarter worth approximately $47,000. Finally, Manchester Capital Management LLC increased its holdings in Ball by 2,341.5% during the 4th quarter. Manchester Capital Management LLC now owns 1,001 shares of the company’s stock worth $58,000 after purchasing an additional 960 shares during the period. Institutional investors own 86.51% of the company’s stock.

Insider Activity at Ball

In related news, Director Pedro Henrique Mariani sold 5,000 shares of Ball stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $69.90, for a total transaction of $349,500.00. Following the completion of the sale, the director now owns 9,844 shares in the company, valued at approximately $688,095.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on BALL. Wells Fargo & Company decreased their price objective on Ball from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Citigroup lowered their price target on shares of Ball from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, July 8th. Truist Financial reissued a “buy” rating and set a $78.00 price objective (up from $76.00) on shares of Ball in a report on Friday. UBS Group upped their target price on Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a report on Tuesday. Finally, Robert W. Baird increased their target price on Ball from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ball has a consensus rating of “Hold” and a consensus price target of $69.08.

Ball Stock Performance

NYSE BALL traded up $0.62 on Tuesday, hitting $63.30. 1,600,216 shares of the company’s stock were exchanged, compared to its average volume of 1,941,627. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.18 and a quick ratio of 0.93. The firm’s 50-day moving average price is $63.35 and its two-hundred day moving average price is $64.22. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of 4.76, a P/E/G ratio of 1.78 and a beta of 0.85. 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 Thursday, August 1st. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.70 by $0.04. Ball had a net margin of 32.79% and a return on equity of 19.45%. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the business earned $0.61 earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts expect that Ball Co. will post 3.09 EPS for the current year.

Ball declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 24th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. Ball’s dividend payout ratio 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.