TD Asset Management Inc Trims Stock Holdings in Ball Co. (NYSE:BALL)

TD Asset Management Inc decreased its stake in Ball Co. (NYSE:BALL) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,429,943 shares of the company’s stock after selling 23,696 shares during the period. TD Asset Management Inc’s holdings in Ball were worth $85,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Independence Bank of Kentucky bought a new position in shares of Ball in the first quarter worth about $47,000. NBC Securities Inc. boosted its stake in shares of Ball by 31.0% in the fourth quarter. NBC Securities Inc. now owns 769 shares of the company’s stock worth $44,000 after acquiring an additional 182 shares during the period. Friedenthal Financial bought a new position in shares of Ball in the second quarter worth about $47,000. Manchester Capital Management LLC boosted its stake in shares of Ball by 2,341.5% in the fourth quarter. Manchester Capital Management LLC now owns 1,001 shares of the company’s stock worth $58,000 after acquiring an additional 960 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of Ball in the fourth quarter worth about $74,000. Institutional investors own 86.51% of the company’s stock.

Ball Trading Down 0.5 %

BALL opened at $64.51 on Friday. The stock’s fifty day moving average is $62.39 and its two-hundred day moving average is $64.90. The company has a market capitalization of $20.02 billion, a P/E ratio of 4.85, a PEG ratio of 1.61 and a beta of 0.85. Ball Co. has a 52 week low of $42.81 and a 52 week high of $71.32. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79.

Ball (NYSE:BALL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.10 billion. Ball had a return on equity of 19.45% and a net margin of 32.79%. Ball’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. Analysts forecast that Ball Co. will post 3.12 earnings per share for the current year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders 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 yield of 1.24%. Ball’s dividend payout ratio (DPR) is presently 6.02%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BALL. Morgan Stanley raised Ball from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $69.00 to $78.00 in a research note on Wednesday. UBS Group increased their price target on Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Robert W. Baird raised Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada dropped their price target on Ball from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ball presently has an average rating of “Hold” and an average target price of $69.85.

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.