Edgestream Partners L.P. Raises Stock Holdings in Ball Corporation $BALL

Edgestream Partners L.P. raised its position in shares of Ball Corporation (NYSE:BALL) by 615.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,432 shares of the company’s stock after buying an additional 119,070 shares during the quarter. Edgestream Partners L.P. owned about 0.05% of Ball worth $7,765,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BALL. Panagora Asset Management Inc. bought a new position in shares of Ball in the 2nd quarter worth about $7,678,000. Smith Moore & CO. increased its stake in shares of Ball by 2.3% during the second quarter. Smith Moore & CO. now owns 12,249 shares of the company’s stock valued at $687,000 after purchasing an additional 278 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Ball by 5.7% during the second quarter. New York State Common Retirement Fund now owns 382,626 shares of the company’s stock valued at $21,461,000 after purchasing an additional 20,575 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Ball by 1.0% in the 2nd quarter. Mackenzie Financial Corp now owns 157,342 shares of the company’s stock worth $8,825,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ball in the 2nd quarter worth approximately $192,463,000. Institutional investors own 86.51% of the company’s stock.

Analyst Ratings Changes

BALL has been the subject of a number of recent research reports. Truist Financial lowered 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. Citigroup dropped their price target on shares of Ball from $60.00 to $53.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Raymond James Financial initiated coverage on shares of Ball in a research report on Wednesday, October 15th. They set a “market perform” rating on the stock. UBS Group decreased their target price on shares of Ball from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Finally, Bank of America upgraded shares of Ball from a “neutral” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Monday, November 17th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.92.

Ball Price Performance

BALL opened at $49.04 on Tuesday. The company’s 50-day simple moving average is $48.55 and its two-hundred day simple moving average is $52.46. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.67 and a current ratio of 1.00. The stock has a market capitalization of $13.14 billion, a P/E ratio of 25.41, a P/E/G ratio of 1.09 and a beta of 1.12. Ball Corporation has a 52-week low of $43.51 and a 52-week high of $62.96.

Ball (NYSE:BALL) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.02 earnings per share for the quarter, meeting the consensus estimate of $1.02. Ball had a net margin of 4.49% and a return on equity of 16.81%. The firm had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, analysts predict that Ball Corporation will post 3.48 EPS for the current year.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, December 1st. Ball’s dividend payout ratio (DPR) is 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.