OLD National Bancorp IN Has $3.52 Million Stock Holdings in Ball Co. (NYSE:BALL)

OLD National Bancorp IN cut its holdings in Ball Co. (NYSE:BALL) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,175 shares of the company’s stock after selling 1,019 shares during the quarter. OLD National Bancorp IN’s holdings in Ball were worth $3,519,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its stake in shares of Ball by 73.6% in the fourth quarter. Handelsbanken Fonder AB now owns 115,522 shares of the company’s stock worth $6,645,000 after buying an additional 48,983 shares during the last quarter. abrdn plc lifted its stake in shares of Ball by 22.5% in the fourth quarter. abrdn plc now owns 422,399 shares of the company’s stock worth $24,296,000 after buying an additional 77,708 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Ball in the fourth quarter worth $43,000. Eukles Asset Management lifted its stake in shares of Ball by 0.5% in the fourth quarter. Eukles Asset Management now owns 64,612 shares of the company’s stock worth $3,716,000 after buying an additional 352 shares during the last quarter. Finally, Colton Groome Financial Advisors LLC raised its stake in Ball by 22.9% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 11,040 shares of the company’s stock valued at $635,000 after purchasing an additional 2,055 shares during the last quarter. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Ball Stock Up 0.7 %

Ball stock opened at $65.43 on Tuesday. The stock has a market cap of $20.65 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 4.20 and a beta of 0.89. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.54 and a current ratio of 0.79. Ball Co. has a one year low of $42.81 and a one year high of $67.97. The stock has a fifty day moving average of $64.72 and a 200 day moving average of $57.54.

Ball (NYSE:BALL) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Ball had a return on equity of 23.81% and a net margin of 5.04%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 earnings per share. As a group, sell-side analysts predict that Ball Co. will post 3.09 EPS for the current year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 29th. Ball’s payout ratio is presently 35.71%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America raised shares of Ball from an “underperform” rating to a “buy” rating and upped their target price for the stock from $61.00 to $72.00 in a report on Monday, March 4th. UBS Group began coverage on shares of Ball in a research report on Tuesday, January 16th. They issued a “sell” rating and a $55.00 price target on the stock. Jefferies Financial Group increased their target price on Ball from $69.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Mizuho raised their price target on shares of Ball to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. Finally, Truist Financial reissued a “hold” rating and issued a $60.00 target price on shares of Ball in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ball presently has a consensus rating of “Hold” and an average price target of $65.58.

Insider Activity at Ball

In related news, insider Daniel William Fisher acquired 3,869 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $64.56 per share, with a total value of $249,782.64. Following the purchase, the insider now directly owns 111,866 shares of the company’s stock, valued at $7,222,068.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.81% of the stock is owned by corporate 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.