Neuberger Berman Group LLC Acquires 41,061 Shares of Ball Corporation (NYSE:BALL)

Key Points

• Neuberger Berman Group LLC increased its holdings in Ball Corporation by 9.1% during the first quarter, bringing its total ownership to 494,246 shares valued at approximately $25.74 million.
• Multiple research firms have raised their price targets for Ball's shares, with UBS increasing its target from $54.00 to $60.00 and Mizuho lifting theirs from $60.00 to $68.00.
• Ball Corporation reported quarterly earnings of $0.90 per share, exceeding analyst estimates, and plans to distribute a quarterly dividend of $0.20 per share on September 16th.

Neuberger Berman Group LLC raised its stake in shares of Ball Corporation (NYSE:BALL - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 494,246 shares of the company's stock after purchasing an additional 41,061 shares during the quarter. Neuberger Berman Group LLC owned 0.18% of Ball worth $25,735,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BALL. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Ball during the 1st quarter valued at about $32,000. Strengthening Families & Communities LLC boosted its position in shares of Ball by 72.4% during the 1st quarter. Strengthening Families & Communities LLC now owns 707 shares of the company's stock valued at $37,000 after acquiring an additional 297 shares in the last quarter. Whipplewood Advisors LLC boosted its position in shares of Ball by 764.9% during the 1st quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock valued at $42,000 after acquiring an additional 719 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Ball by 40.4% during the 1st quarter. Federated Hermes Inc. now owns 1,311 shares of the company's stock valued at $68,000 after acquiring an additional 377 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new stake in shares of Ball during the 4th quarter valued at about $70,000. Institutional investors own 86.51% of the company's stock.

Wall Street Analyst Weigh In

BALL has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a research report on Friday, July 18th. Citigroup lifted their target price on shares of Ball from $55.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Truist Financial lifted their target price on shares of Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Royal Bank Of Canada boosted their price target on shares of Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Bank of America restated a "neutral" rating and issued a $66.00 price target (down from $67.00) on shares of Ball in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Ball has a consensus rating of "Hold" and an average price target of $65.27.

Ball Price Performance

Shares of NYSE BALL traded up $0.19 during trading on Friday, reaching $53.83. The company had a trading volume of 1,398,771 shares, compared to its average volume of 2,517,731. Ball Corporation has a 52 week low of $43.51 and a 52 week high of $68.12. The stock has a market cap of $14.65 billion, a PE ratio of 27.89, a PEG ratio of 1.22 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.67 and a current ratio of 1.00. The business's 50 day moving average price is $56.72 and its 200-day moving average price is $53.12.

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 analysts' consensus estimates of $0.87 by $0.03. Ball had a net margin of 4.49% and a return on equity of 16.81%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The company's revenue was up 12.8% on a year-over-year basis. Analysts expect that Ball Corporation will post 3.48 earnings per share for the current year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid 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 dividend yield of 1.5%. Ball's payout ratio is currently 41.45%.

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.