Freestone Grove Partners LP Acquires New Position in Ball Corporation $BALL

Key Points

• Freestone Grove Partners initiated a Ball Corporation position of 45,714 shares worth approximately $2.85 million in the second quarter. Institutional investors collectively own 86.51% of Ball’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $71.69, above the reported share price of $63.69.
• Ball reported quarterly EPS of $1.03, exceeding estimates, while revenue rose 19.7% year over year to $4 billion. The company also declared a quarterly dividend of $0.20 per share, equivalent to a 1.3% annual yield.

Freestone Grove Partners LP bought a new position in Ball Corporation (NYSE:BALL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 45,714 shares of the company's stock, valued at approximately $2,853,000.

A number of other hedge funds also recently bought and sold shares of BALL. Triumph Capital Management bought a new position in Ball during the third quarter valued at approximately $26,000. Basecamp Wealth Advisors LLC lifted its holdings in shares of Ball by 135.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 477 shares of the company's stock worth $28,000 after acquiring an additional 274 shares during the last quarter. Gilpin Wealth Management LLC purchased a new stake in shares of Ball in the 4th quarter valued at $29,000. Ancora Advisors LLC purchased a new stake in shares of Ball in the 2nd quarter valued at $30,000. Finally, Trust Co. of Vermont bought a new position in shares of Ball during the 2nd quarter valued at $37,000. Institutional investors own 86.51% of the company's stock.

Insiders Place Their Bets

In other news, SVP Mandy Glew sold 5,626 shares of Ball stock in a transaction that occurred on 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. This trade represents a 43.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Bank of America upped their price target on shares of Ball from $70.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada raised their price target on Ball from $75.00 to $77.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Truist Financial set a $78.00 price target on Ball in a research note on Wednesday, August 5th. Mizuho set a $72.00 price objective on Ball in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $65.00 price objective (up from $60.00) on shares of Ball in a research note on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ball presently has an average rating of "Moderate Buy" and a consensus price target of $71.69.

Ball Stock Performance

Shares of NYSE:BALL opened at $63.69 on Friday. The company has a market cap of $16.86 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98. The company has a 50-day moving average price of $62.71 and a 200-day moving average price of $61.21. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 1.13. Ball Corporation has a 12 month low of $44.83 and a 12 month high of $68.29.

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

Ball Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 1.3%. Ball's dividend payout ratio (DPR) is 22.66%.

Ball Profile

Ball Corporation is a leading provider of sustainable aluminum packaging solutions and advanced aerospace technologies. Headquartered in Broomfield, Colorado, the company serves customers in the beverage, food and aerosol markets through a global network of manufacturing facilities. With an emphasis on sustainability and innovation, Ball designs and produces metal cans, bottles and ends that support recycling and reduce environmental impact.

The company's packaging segment specializes in beverage cans for soft drinks, beer and energy drinks, as well as metal packaging for food and personal care applications.

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