Folger Nolan Fleming Douglas Capital Management Inc. Lowers Stock Holdings in Ball Co. (NYSE:BALL)

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in shares of Ball Co. (NYSE:BALL) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,113 shares of the company’s stock after selling 313 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Ball were worth $502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Federated Hermes Inc. raised its stake in Ball by 0.9% in the second quarter. Federated Hermes Inc. now owns 18,941 shares of the company’s stock valued at $1,137,000 after buying an additional 162 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Ball by 4.5% in the 3rd quarter. Moors & Cabot Inc. now owns 4,442 shares of the company’s stock valued at $302,000 after acquiring an additional 192 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Ball by 1.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 16,895 shares of the company’s stock worth $1,147,000 after acquiring an additional 199 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Ball by 2.1% during the fourth quarter. Park Avenue Securities LLC now owns 10,082 shares of the company’s stock worth $556,000 after purchasing an additional 210 shares during the last quarter. Finally, Opal Wealth Advisors LLC boosted its holdings in Ball by 7.6% in the third quarter. Opal Wealth Advisors LLC now owns 3,033 shares of the company’s stock valued at $206,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Ball from $69.00 to $59.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $49.00 price objective (down previously from $56.00) on shares of Ball in a report on Thursday. Truist Financial cut their target price on Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $75.00 price target on shares of Ball in a research note on Monday, November 4th. Finally, Mizuho upgraded Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price objective for the company in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ball presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.17.

Ball Stock Up 0.1 %

BALL opened at $54.33 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. Ball Co. has a 12 month low of $51.96 and a 12 month high of $71.32. The stock has a market capitalization of $16.21 billion, a P/E ratio of 4.10, a P/E/G ratio of 1.24 and a beta of 0.93. The business has a 50 day simple moving average of $57.69 and a 200-day simple moving average of $61.58.

Ball (NYSE:BALL) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Ball had a net margin of 34.05% and a return on equity of 17.46%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the company posted $0.83 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts anticipate that Ball Co. will post 3.15 earnings per share for the current fiscal year.

Ball Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.47%. The ex-dividend date was Monday, December 2nd. Ball’s payout ratio is currently 6.03%.

About Ball

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.