Investment Management Corp of Ontario Purchases 3,300 Shares of Ball Co. (NYSE:BALL)

Investment Management Corp of Ontario boosted its position in Ball Co. (NYSE:BALL) by 46.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,341 shares of the company’s stock after purchasing an additional 3,300 shares during the period. Investment Management Corp of Ontario’s holdings in Ball were worth $702,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BALL. Peterson Financial Group Inc. purchased a new position in shares of Ball in the third quarter worth approximately $30,000. Catalyst Capital Advisors LLC bought a new position in Ball in the third quarter worth approximately $47,000. Friedenthal Financial purchased a new position in shares of Ball during the 2nd quarter worth $47,000. Brooklyn Investment Group bought a new stake in shares of Ball during the 3rd quarter valued at $66,000. Finally, Quarry LP increased its stake in shares of Ball by 598.6% in the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock worth $60,000 after purchasing an additional 856 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BALL has been the subject of several recent research reports. 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 report on Wednesday, August 14th. Morgan Stanley upgraded Ball from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and set a $75.00 target price on shares of Ball in a research note on Monday, November 4th. Citigroup upped their price target on shares of Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Mizuho lowered their target price on shares of Ball from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.75.

Ball Stock Down 0.8 %

BALL opened at $57.09 on Friday. Ball Co. has a 52 week low of $54.06 and a 52 week high of $71.32. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. The firm has a 50-day simple moving average of $63.15 and a two-hundred day simple moving average of $63.87. The company has a market capitalization of $17.04 billion, a PE ratio of 4.32, a price-to-earnings-growth ratio of 1.55 and a beta of 0.91.

Ball (NYSE:BALL) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Ball had a return on equity of 17.46% and a net margin of 34.05%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. Analysts forecast that Ball Co. will post 3.15 earnings per share for the current fiscal year.

Ball Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Monday, December 2nd. Ball’s payout ratio is 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.