Campbell & CO Investment Adviser LLC Invests $1.71 Million in Ball Corporation $BALL

Key Points

• Campbell & CO Investment Adviser LLC has invested approximately $1.71 million in Ball Corporation, acquiring 32,789 shares in the 1st quarter of 2023.
• Ball Corporation reported a quarterly revenue of $3.34 billion, exceeding analysts' expectations, and achieved $0.90 EPS, beating the consensus estimate by $0.03.
• The company declared a quarterly dividend of $0.20 per share, set to be paid on September 16th, reflecting an annualized yield of 1.5%.

Campbell & CO Investment Adviser LLC purchased a new stake in Ball Corporation (NYSE:BALL - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 32,789 shares of the company's stock, valued at approximately $1,707,000.

A number of other hedge funds also recently made changes to their positions in the stock. SVB Wealth LLC acquired a new position in shares of Ball in the 1st quarter valued at $39,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Ball by 21.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 124,267 shares of the company's stock valued at $6,471,000 after purchasing an additional 22,278 shares during the last quarter. Resolute Capital Asset Partners LLC acquired a new position in shares of Ball in the 1st quarter valued at $1,041,000. Allstate Corp boosted its holdings in shares of Ball by 34.3% in the 1st quarter. Allstate Corp now owns 11,711 shares of the company's stock valued at $610,000 after purchasing an additional 2,994 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Ball by 6.1% in the 1st quarter. Ameriprise Financial Inc. now owns 815,283 shares of the company's stock valued at $42,453,000 after purchasing an additional 47,196 shares during the last quarter. Institutional investors and hedge funds own 86.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Ball from $62.00 to $69.00 and gave the company a "buy" rating in a report on Friday, July 11th. UBS Group lifted their target price on shares of Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wells Fargo & Company lifted their target price on shares of Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Bank of America restated a "neutral" rating and set a $66.00 target price (down previously from $67.00) on shares of Ball in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $65.27.

Insider Transactions at Ball

In related news, Chairman Daniel William Fisher sold 3,400 shares of Ball stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $51.55, for a total transaction of $175,270.00. Following the sale, the chairman owned 10,036 shares of the company's stock, valued at $517,355.80. The trade was a 25.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is owned by company insiders.

Ball Stock Up 1.0%

Ball stock traded up $0.54 during midday trading on Friday, hitting $52.61. 1,787,849 shares of the stock were exchanged, compared to its average volume of 2,685,026. Ball Corporation has a 1 year low of $43.51 and a 1 year high of $68.12. The firm has a market cap of $14.32 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.00 and a quick ratio of 0.67. The company has a 50 day moving average price of $56.23 and a two-hundred day moving average price of $53.13.

Ball (NYSE:BALL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Ball had a net margin of 4.49% and a return on equity of 16.81%. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm's quarterly revenue was up 12.8% on a year-over-year basis. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. On average, sell-side analysts predict that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.80 annualized dividend and a yield of 1.5%. Ball's payout ratio is 41.45%.

About Ball

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.