JPMorgan Chase & Co. Acquires 2,453,630 Shares of Ball Corporation (NYSE:BALL)

Key Points

• JPMorgan Chase & Co. increased its stake in Ball Corporation by 44.2%, acquiring an additional 2,453,630 shares, bringing their total holdings to approximately 8 million shares valued at $416.68 million.
• Ball reported strong earnings, with an EPS of $0.90 for the quarter, surpassing analyst expectations of $0.87, and generating revenues of $3.34 billion, up 12.8% year-over-year.
• The company declared a quarterly dividend of $0.20 per share, equating to an annualized dividend yield of 1.5%, with the payment set for September 16th.

JPMorgan Chase & Co. boosted its holdings in Ball Corporation (NYSE:BALL - Free Report) by 44.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,002,327 shares of the company's stock after acquiring an additional 2,453,630 shares during the quarter. JPMorgan Chase & Co. owned 2.88% of Ball worth $416,681,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BALL. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ball by 12.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,718 shares of the company's stock valued at $2,044,000 after purchasing an additional 4,289 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Ball by 5.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 122,483 shares of the company's stock valued at $6,378,000 after purchasing an additional 5,841 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Ball by 12.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 55,997 shares of the company's stock valued at $2,916,000 after purchasing an additional 6,106 shares during the last quarter. PFG Investments LLC bought a new position in shares of Ball during the 1st quarter valued at about $307,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Ball by 19.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,481 shares of the company's stock valued at $1,171,000 after purchasing an additional 3,676 shares during the last quarter. 86.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on BALL shares. Royal Bank Of Canada increased their price objective on Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Barclays reduced their price target on Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 14th. Bank of America restated a "neutral" rating and set a $66.00 price target (down from $67.00) on shares of Ball in a research report on Wednesday, July 9th. Citigroup raised their price target on Ball from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Finally, Truist Financial raised their price target on Ball from $62.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.27.

Ball Trading Down 0.7%

BALL opened at $53.71 on Tuesday. The stock has a market cap of $14.62 billion, a PE ratio of 27.83, a PEG ratio of 1.23 and a beta of 1.08. The company has a quick ratio of 0.67, a current ratio of 1.00 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average of $56.68 and a 200-day moving average of $53.15. Ball Corporation has a 52 week low of $43.51 and a 52 week high of $68.12.

Ball (NYSE:BALL - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The company had revenue of $3.34 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Equities research analysts predict that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 2nd. Ball's dividend payout ratio (DPR) is presently 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.

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