Arrowstreet Capital Limited Partnership Boosts Stock Position in Ball Corporation $BALL

Arrowstreet Capital Limited Partnership lifted its stake in shares of Ball Corporation (NYSE:BALL) by 483.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 355,470 shares of the company’s stock after acquiring an additional 294,596 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.13% of Ball worth $19,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BALL. JPMorgan Chase & Co. lifted its holdings in Ball by 2.6% during the second quarter. JPMorgan Chase & Co. now owns 8,210,060 shares of the company’s stock valued at $460,502,000 after purchasing an additional 207,733 shares in the last quarter. Invesco Ltd. boosted its holdings in Ball by 5.1% in the 1st quarter. Invesco Ltd. now owns 4,370,274 shares of the company’s stock worth $227,560,000 after buying an additional 210,838 shares during the period. Norges Bank bought a new position in Ball in the 2nd quarter worth $192,463,000. Dimensional Fund Advisors LP increased its stake in Ball by 10.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,370,532 shares of the company’s stock worth $175,480,000 after buying an additional 315,091 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Ball by 0.7% during the first quarter. Northern Trust Corp now owns 3,046,342 shares of the company’s stock valued at $158,623,000 after acquiring an additional 19,921 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on BALL. Truist Financial dropped their price objective on Ball from $69.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Raymond James Financial started coverage on Ball in a research note on Wednesday, October 15th. They set a “market perform” rating on the stock. UBS Group dropped their price target on Ball from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ball in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ball from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ball presently has a consensus rating of “Hold” and a consensus price target of $60.92.

Ball Stock Performance

Ball stock opened at $49.06 on Monday. The company’s 50-day moving average price is $48.55 and its 200-day moving average price is $52.31. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 1.26. The company has a market cap of $13.15 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.05 and a beta of 1.13. Ball Corporation has a twelve month low of $43.51 and a twelve month high of $60.28.

Ball (NYSE:BALL) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.02 EPS for the quarter, meeting analysts’ consensus estimates of $1.02. Ball had a net margin of 5.36% and a return on equity of 17.89%. The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the firm earned $0.91 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. On average, equities research analysts forecast that Ball Corporation will post 3.48 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.6%. Ball’s payout ratio is currently 32.52%.

Ball Company 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.