Cubist Systematic Strategies LLC Purchases Shares of 319,271 Ball Corporation $BALL

Key Points

• Cubist Systematic Strategies LLC acquired 319,271 shares of Ball Corporation, investing approximately $16.62 million during the first quarter, indicating a growing interest from institutional investors.
• Ball Corporation reported a quarterly earnings per share (EPS) of $0.90, exceeding analysts' expectations of $0.87, with revenues up by 12.8% year-over-year.
• The company also declared a quarterly dividend of $0.20 per share, with a yield of 1.5%, reinforcing its commitment to returning value to shareholders.

Cubist Systematic Strategies LLC acquired a new position in Ball Corporation (NYSE:BALL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 319,271 shares of the company's stock, valued at approximately $16,624,000. Cubist Systematic Strategies LLC owned 0.12% of Ball as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BALL. JPMorgan Chase & Co. grew its position in shares of Ball by 44.2% during the first quarter. JPMorgan Chase & Co. now owns 8,002,327 shares of the company's stock worth $416,681,000 after purchasing an additional 2,453,630 shares in the last quarter. Invesco Ltd. grew its position in shares of Ball by 5.1% during the first quarter. Invesco Ltd. now owns 4,370,274 shares of the company's stock worth $227,560,000 after purchasing an additional 210,838 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ball by 10.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,370,532 shares of the company's stock worth $175,480,000 after purchasing an additional 315,091 shares in the last quarter. London Co. of Virginia grew its position in shares of Ball by 61.1% during the fourth quarter. London Co. of Virginia now owns 3,054,393 shares of the company's stock worth $168,389,000 after purchasing an additional 1,158,668 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Ball by 0.7% during the first quarter. Northern Trust Corp now owns 3,046,342 shares of the company's stock worth $158,623,000 after purchasing an additional 19,921 shares in the last quarter. Institutional investors own 86.51% of the company's stock.

Ball Stock Up 0.5%

Shares of NYSE:BALL traded up $0.27 on Thursday, reaching $50.42. The company had a trading volume of 2,064,967 shares, compared to its average volume of 2,622,568. Ball Corporation has a 52-week low of $43.51 and a 52-week high of $68.12. The firm's 50 day simple moving average is $55.90 and its 200-day simple moving average is $53.17. The firm has a market capitalization of $13.72 billion, a PE ratio of 26.12, a PEG ratio of 1.20 and a beta of 1.06. The company has a current ratio of 1.00, a quick ratio of 0.67 and a debt-to-equity ratio of 1.23.

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

Ball Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.6%. Ball's dividend payout ratio is presently 41.45%.

Insiders Place Their Bets

In related news, Chairman Daniel William Fisher sold 3,400 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $51.55, for a total value of $175,270.00. Following the completion of the transaction, the chairman owned 10,036 shares of the company's stock, valued at approximately $517,355.80. This represents a 25.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America restated a "neutral" rating and set a $66.00 price target (down previously from $67.00) on shares of Ball in a report on Wednesday, July 9th. Barclays cut their price target on Ball from $61.00 to $57.00 and set an "equal weight" rating for the company in a report on Wednesday, May 14th. Truist Financial raised their price target on Ball from $62.00 to $69.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company raised their price target on Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada raised their price target on 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $65.27.

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.