Sei Investments Co. Sells 7,045 Shares of Ball Co. (NYSE:BALL)

Sei Investments Co. lowered its stake in Ball Co. (NYSE:BALL) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 491,655 shares of the company’s stock after selling 7,045 shares during the quarter. Sei Investments Co.’s holdings in Ball were worth $29,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its stake in Ball by 0.9% in the 2nd quarter. Federated Hermes Inc. now owns 18,941 shares of the company’s stock worth $1,137,000 after purchasing an additional 162 shares during the period. Fifth Third Bancorp boosted its stake in Ball by 2.0% in the 2nd quarter. Fifth Third Bancorp now owns 8,743 shares of the company’s stock worth $525,000 after purchasing an additional 174 shares during the period. State of Alaska Department of Revenue boosted its stake in Ball by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 34,206 shares of the company’s stock worth $2,304,000 after purchasing an additional 175 shares during the period. SYSTM Wealth Solutions LLC boosted its stake in Ball by 0.7% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 26,470 shares of the company’s stock worth $1,783,000 after purchasing an additional 179 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its stake in Ball by 17.0% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock worth $77,000 after purchasing an additional 186 shares during the period. Institutional investors own 86.51% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada lowered their price target on Ball from $80.00 to $77.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Wells Fargo & Company lowered their price target on Ball from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Morgan Stanley raised Ball from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $69.00 to $78.00 in a report on Wednesday, September 4th. Finally, Citigroup lowered their price target on Ball from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ball has an average rating of “Moderate Buy” and a consensus target price of $70.83.

Ball Stock Performance

Shares of NYSE BALL opened at $67.23 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The stock’s 50-day moving average is $63.83 and its 200 day moving average is $65.16. The stock has a market cap of $20.87 billion, a price-to-earnings ratio of 5.06, a P/E/G ratio of 1.64 and a beta of 0.88. Ball Co. has a 1-year low of $42.81 and a 1-year high of $71.32.

Ball (NYSE:BALL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Ball had a return on equity of 19.45% and a net margin of 32.79%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. On average, sell-side analysts anticipate that Ball Co. will post 3.12 EPS for the current fiscal year.

Ball Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. 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.