Ball Corporation (NYSE:BALL) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in Ball Corporation by 5.8%, now owning 148,519 shares valued at approximately $7.73 million.
• In recent earnings data, Ball reported $0.90 earnings per share, exceeding estimates, with a revenue of $3.34 billion for the quarter.
• Analysts have set a consensus rating of "Moderate Buy" for Ball, with an average price target of $65.27 per share.

National Bank of Canada FI lifted its holdings in Ball Corporation (NYSE:BALL - Free Report) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,519 shares of the company's stock after acquiring an additional 8,161 shares during the period. National Bank of Canada FI owned 0.05% of Ball worth $7,733,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC bought a new position in shares of Ball in the 1st quarter valued at about $32,000. Whipplewood Advisors LLC raised its position in Ball by 764.9% in the 1st quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock worth $42,000 after purchasing an additional 719 shares during the period. Parvin Asset Management LLC purchased a new stake in Ball in the 4th quarter worth about $70,000. Federated Hermes Inc. raised its position in Ball by 40.4% in the 1st quarter. Federated Hermes Inc. now owns 1,311 shares of the company's stock worth $68,000 after purchasing an additional 377 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Ball by 51.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,474 shares of the company's stock worth $77,000 after purchasing an additional 500 shares during the period. Institutional investors own 86.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BALL shares. Royal Bank Of Canada increased their price objective on shares of Ball from $69.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Citigroup increased their price objective on shares of Ball from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Wells Fargo & Company increased their price objective on shares of Ball from $50.00 to $54.00 and gave the stock an "underweight" rating in a research report on Friday, July 18th. Truist Financial increased their price objective on shares of Ball from $62.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Barclays reduced their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $65.27.

Ball Stock Up 0.4%

BALL stock traded up $0.19 during trading on Friday, hitting $53.83. 1,398,771 shares of the company's stock traded hands, compared to its average volume of 2,517,731. The firm has a market capitalization of $14.65 billion, a P/E ratio of 27.89, a PEG ratio of 1.22 and a beta of 1.08. The business has a fifty day simple moving average of $56.72 and a two-hundred day simple moving average of $53.12. The company has a quick ratio of 0.67, a current ratio of 1.00 and a debt-to-equity ratio of 1.23. Ball Corporation has a 1 year low of $43.51 and a 1 year high of $68.12.

Ball (NYSE:BALL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.10 billion. Ball had a net margin of 4.49% and a return on equity of 16.81%. Ball's revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. Sell-side analysts anticipate that Ball Corporation will post 3.48 EPS for the current year.

Ball Announces Dividend

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

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.