Mirae Asset Global Investments Co. Ltd. Buys 72,328 Shares of Ball Corporation $BALL

Mirae Asset Global Investments Co. Ltd. purchased a new position in Ball Corporation (NYSE:BALL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 72,328 shares of the company’s stock, valued at approximately $4,053,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BALL. ProShare Advisors LLC raised its position in Ball by 0.4% in the 3rd quarter. ProShare Advisors LLC now owns 67,650 shares of the company’s stock worth $3,790,000 after buying an additional 264 shares during the last quarter. State of Wyoming raised its holdings in shares of Ball by 40.0% during the third quarter. State of Wyoming now owns 15,381 shares of the company’s stock valued at $862,000 after purchasing an additional 4,393 shares during the last quarter. Glenview Trust Co purchased a new position in shares of Ball during the third quarter valued at approximately $416,000. Parcion Private Wealth LLC raised its holdings in shares of Ball by 9.3% during the third quarter. Parcion Private Wealth LLC now owns 3,673 shares of the company’s stock valued at $206,000 after purchasing an additional 314 shares during the last quarter. Finally, Interchange Capital Partners LLC lifted its position in Ball by 15.5% during the third quarter. Interchange Capital Partners LLC now owns 3,732 shares of the company’s stock valued at $209,000 after purchasing an additional 502 shares during the period. 86.51% of the stock is owned by institutional investors.

Insider Transactions at Ball

In other Ball news, SVP Mandy Glew sold 5,626 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $63.80, for a total value of $358,938.80. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at $459,934.20. This represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Ball Stock Performance

BALL traded down $1.03 during trading on Friday, hitting $65.88. The company’s stock had a trading volume of 2,571,933 shares, compared to its average volume of 2,401,678. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 1.13. Ball Corporation has a one year low of $46.06 and a one year high of $69.57. The firm has a market cap of $17.44 billion, a PE ratio of 33.11, a P/E/G ratio of 1.37 and a beta of 0.94. The business’s 50 day simple moving average is $61.38 and its 200-day simple moving average is $61.11.

Ball (NYSE:BALL) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. Ball had a net margin of 6.61% and a return on equity of 18.76%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, sell-side analysts predict that Ball Corporation will post 4.00 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.2%. Ball’s payout ratio is 40.20%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of Ball from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday. JPMorgan Chase & Co. downgraded shares of Ball from an “overweight” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Wednesday. Bank of America boosted their target price on shares of Ball from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Mizuho increased their price target on Ball from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company lowered their price target on Ball from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Ball currently has a consensus rating of “Moderate Buy” and an average target price of $72.15.

Trending Headlines about Ball

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Citigroup raised its price target to $77 from $75 and maintained a Buy rating; RBC also lifted its target to $77, from $73, and kept its Outperform rating. Both targets imply about 17% upside from the cited $65.88 share price. Citigroup price-target report RBC analyst recommendations
• Positive Sentiment: Truist reiterated its Buy rating, signaling continued confidence in Ball’s prospects. Truist rating report
• Neutral Sentiment: UBS raised its target to $68 from $63 but kept a Neutral rating, suggesting a more modest view of potential gains. UBS price-target report
• Neutral Sentiment: Mizuho set a new $75 price target. Ball’s reported consensus target is $71.46, reflecting generally positive expectations but some variation among analysts. Mizuho price-target report Consensus price-target report
• Negative Sentiment: JPMorgan cut Ball’s rating to Neutral, a cautious counterpoint to the recent target increases. JPMorgan rating report

About Ball

Ball Corporation is a global supplier of sustainable aluminum packaging. The company primarily manufactures aluminum beverage cans, bottles and cups used by beer, soft-drink, energy-drink and other beverage companies. Its products are designed to support brand presentation, product protection and recycling throughout the packaging lifecycle.

Ball serves customers across North and South America, Europe and other international markets through a network of manufacturing facilities. The company also develops and markets aluminum packaging products for additional consumer and household applications, including its reusable and recyclable Ball Aluminum Cup.

Founded in 1880 as a manufacturer of glass containers, Ball evolved into a major producer of metal packaging and became particularly known for its aluminum beverage cans.