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

Key Points

• Mirae Asset Global Investments opened a new Ball position, purchasing 72,328 shares worth approximately $4.05 million in the third quarter. Institutional investors and hedge funds own 86.51% of Ball’s stock.
• Ball beat quarterly earnings expectations, reporting EPS of $1.10 versus $1.07 forecast and revenue of $4.19 billion; revenue rose 23.9% year over year.
• Analyst sentiment was generally positive, with a “Moderate Buy” consensus and an average price target of about $72.15, though JPMorgan downgraded the stock to Neutral. Ball shares closed at $65.88, down 1.5% that day.

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

Several other institutional investors and hedge funds have also bought and sold shares of the stock. ProShare Advisors LLC grew its holdings in shares of Ball by 0.4% during the 3rd quarter. ProShare Advisors LLC now owns 67,650 shares of the company's stock worth $3,790,000 after acquiring an additional 264 shares during the period. State of Wyoming lifted its stake in shares of Ball by 40.0% in the 3rd 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 period. Glenview Trust Co bought a new stake in shares of Ball during the third quarter valued at approximately $416,000. Parcion Private Wealth LLC boosted its position 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 in the last quarter. Finally, Interchange Capital Partners LLC boosted its position in shares of 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 in the last quarter. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

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

Wall Street Analyst Weigh In

BALL has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded Ball from an "overweight" rating to a "neutral" rating and set a $65.00 price objective for the company. in a report on Wednesday. Truist Financial restated a "buy" rating and set a $76.00 target price (down from $78.00) on shares of Ball in a report on Wednesday. Bank of America upped their target price on shares of Ball from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their target price on shares of Ball from $73.00 to $77.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Mizuho increased their price target on shares of Ball from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Ball has an average rating of "Moderate Buy" and an average target price of $72.15.

Insider Transactions at Ball

In related news, SVP Mandy Glew sold 5,626 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $63.80, for a total value of $358,938.80. Following the transaction, the senior vice president owned 7,209 shares in the company, valued at $459,934.20. The trade was a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.58% of the stock is currently owned by insiders.

Ball Stock Down 1.5%

Shares of Ball stock traded down $1.03 during midday trading on Friday, hitting $65.88. The company had a trading volume of 2,571,933 shares, compared to its average volume of 2,401,678. Ball Corporation has a 52-week low of $46.06 and a 52-week high of $69.57. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.66 and a current ratio of 1.07. The stock has a market capitalization of $17.44 billion, a P/E ratio of 33.11, a P/E/G ratio of 1.37 and a beta of 0.94. The company has a 50 day moving average of $61.38 and a 200 day moving average of $61.11.

Ball (NYSE:BALL - Get Free Report) last announced 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 return on equity of 18.76% and a net margin of 6.61%. The business had revenue of $4.19 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the business earned $1.02 earnings per share. The firm's quarterly revenue was up 23.9% compared to the same quarter last year. On average, equities analysts predict that Ball Corporation will post 4.00 earnings per share for the current fiscal year.

Ball Announces Dividend

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

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.

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