Iridian Asset Management LLC CT Makes New $1.20 Million Investment in Ball Corporation (NYSE:BALL)

Iridian Asset Management LLC CT acquired a new position in Ball Corporation (NYSE:BALL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,971 shares of the company's stock, valued at approximately $1,196,000.

Other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management raised its position in shares of Ball by 68.9% in the 4th quarter. Picton Mahoney Asset Management now owns 522 shares of the company's stock valued at $29,000 after acquiring an additional 213 shares during the period. GAMMA Investing LLC boosted its stake in Ball by 6.0% in the 1st quarter. GAMMA Investing LLC now owns 3,852 shares of the company's stock worth $201,000 after purchasing an additional 219 shares during the period. Exchange Traded Concepts LLC raised its position in Ball by 11.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,938 shares of the company's stock valued at $153,000 after buying an additional 307 shares during the last quarter. Toth Financial Advisory Corp lifted its position in shares of Ball by 0.6% in the first quarter. Toth Financial Advisory Corp now owns 53,359 shares of the company's stock worth $2,778,000 after purchasing an additional 325 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Ball by 1.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 21,710 shares of the company's stock worth $1,130,000 after buying an additional 357 shares during the last quarter. Institutional investors and hedge funds own 86.51% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial cut their price objective on Ball from $65.00 to $58.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. UBS Group reduced their price target on Ball from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Barclays decreased their target price on shares of Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 14th. Loop Capital dropped their price target on Ball from $83.00 to $78.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada upped their target price on Ball from $62.00 to $63.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.82.

Ball Trading Down 1.6%

NYSE BALL traded down $0.91 on Wednesday, hitting $57.85. The company's stock had a trading volume of 143,640 shares, compared to its average volume of 2,215,654. The company has a quick ratio of 0.70, a current ratio of 1.04 and a debt-to-equity ratio of 1.10. 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 $16.05 billion, a PE ratio of 34.51, a PEG ratio of 1.57 and a beta of 1.08. The company's 50-day moving average is $54.43 and its 200 day moving average is $52.70.

Ball (NYSE:BALL - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $2.91 billion. Ball had a net margin of 4.18% and a return on equity of 15.41%. The company's revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. As a group, analysts predict that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.20 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. Ball's dividend payout ratio is presently 47.62%.

Ball 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.