California State Teachers Retirement System Purchases 29,356,935 Shares of Ball Corporation $BALL

Key Points

• California State Teachers Retirement System increased its Ball position by 9,817.1%, buying 29.36 million shares to own 29.66 million shares, or 11.2% of the company. Institutional investors collectively hold 86.51% of Ball’s stock.
• Analyst sentiment remains moderately positive, with eight Buy ratings, four Holds and one Sell; the consensus price target is $71.69. JPMorgan and UBS maintained neutral ratings, while Citigroup downgraded the stock to Reduce.
• Ball exceeded quarterly expectations with adjusted EPS of $1.03 versus a $0.99 consensus and revenue of $4 billion, up 19.7% year over year. The company also declared a quarterly dividend of $0.20 per share, representing a 1.3% yield.

California State Teachers Retirement System raised its position in Ball Corporation (NYSE:BALL - Free Report) by 9,817.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,655,974 shares of the company's stock after buying an additional 29,356,935 shares during the period. California State Teachers Retirement System owned 11.20% of Ball worth $1,850,533,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Saudi Central Bank boosted its stake in shares of Ball by 88.3% in the 2nd quarter. Saudi Central Bank now owns 17,699 shares of the company's stock worth $1,104,000 after buying an additional 8,302 shares during the last quarter. Markowski Investments purchased a new stake in shares of Ball during the second quarter valued at approximately $70,000. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of Ball during the second quarter valued at approximately $1,171,000. Syon Capital LLC lifted its holdings in Ball by 13.6% during the second quarter. Syon Capital LLC now owns 14,754 shares of the company's stock worth $921,000 after acquiring an additional 1,761 shares during the period. Finally, Nykredit A S bought a new stake in Ball during the second quarter worth $4,792,000. Institutional investors own 86.51% of the company's stock.

Analyst Upgrades and Downgrades

BALL has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $65.00 price objective (up from $60.00) on shares of Ball in a research report on Wednesday, August 5th. Weiss Ratings raised Ball from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 30th. UBS Group lifted their target price on Ball from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Truist Financial set a $78.00 price target on shares of Ball in a report on Wednesday, August 5th. Finally, Citigroup lowered shares of Ball from a "buy" rating to a "reduce" rating in a research report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.69.

Insider Buying and Selling at Ball

In related news, SVP Mandy Glew sold 5,626 shares of the business'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 sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $459,934.20. The trade was a 43.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company's stock.

Ball Price Performance

Ball stock opened at $60.00 on Friday. Ball Corporation has a 12 month low of $44.83 and a 12 month high of $68.29. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 1.13. The business's 50 day simple moving average is $62.76 and its 200 day simple moving average is $60.86. The company has a market cap of $15.88 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.15 and a beta of 0.95.

Ball (NYSE:BALL - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. Ball had a return on equity of 18.76% and a net margin of 6.61%.The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the business posted $0.90 earnings per share. The business's revenue for the quarter was up 19.7% on a year-over-year basis. Ball has set its FY 2026 guidance at 3.930- EPS. Sell-side analysts forecast that Ball Corporation will post 4.01 EPS for the current year.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. Ball's dividend payout ratio is presently 22.66%.

Ball Company Profile

Ball Corporation NYSE: BALL is a global manufacturer of sustainable aluminum packaging products. The company primarily serves the beverage, personal care and household-product industries, producing aluminum beverage cans, bottles, aerosol containers and related packaging solutions. Its products are used by brand owners and manufacturers across a range of consumer markets.

Founded in 1880 as a manufacturer of glass containers, Ball gradually transitioned toward metal packaging and became best known for its aluminum beverage-can business.

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