Nuveen LLC Buys New Position in Ball Corporation (NYSE:BALL)

Key Points

• Nuveen LLC has acquired a new position in Ball Corporation, purchasing 914,263 shares for around $47.6 million, representing about 0.33% ownership as of the latest SEC filing.
• Several institutional investors, including Brighton Jones LLC and Barclays PLC, have also increased their stakes in Ball Corporation, indicating significant institutional interest in the company.
• Ball Corporation recently reported quarterly earnings, with Earnings Per Share (EPS) of $0.90, surpassing estimates, and declared a quarterly dividend of $0.20, demonstrating strong financial performance.

Nuveen LLC bought a new stake in Ball Corporation (NYSE:BALL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 914,263 shares of the company's stock, valued at approximately $47,606,000. Nuveen LLC owned about 0.33% of Ball as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its stake in Ball by 41.2% in the fourth quarter. Brighton Jones LLC now owns 5,245 shares of the company's stock valued at $289,000 after purchasing an additional 1,531 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Ball in the fourth quarter valued at approximately $568,000. Townsquare Capital LLC grew its stake in Ball by 25.4% in the fourth quarter. Townsquare Capital LLC now owns 10,089 shares of the company's stock valued at $556,000 after purchasing an additional 2,041 shares in the last quarter. Barclays PLC grew its stake in Ball by 33.8% in the fourth quarter. Barclays PLC now owns 1,078,705 shares of the company's stock valued at $59,469,000 after purchasing an additional 272,644 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its stake in Ball by 17.6% in the fourth quarter. CreativeOne Wealth LLC now owns 5,689 shares of the company's stock valued at $314,000 after purchasing an additional 850 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company's stock.

Analyst Upgrades and Downgrades

BALL has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a research note on Friday, July 18th. Mizuho raised their price target on Ball from $60.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Truist Financial raised their price target on Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Loop Capital decreased 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, Barclays decreased their price target on Ball from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $65.27.

Ball Stock Performance

Shares of NYSE BALL opened at $53.68 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.67 and a debt-to-equity ratio of 1.23. Ball Corporation has a 12 month low of $43.51 and a 12 month high of $68.12. The stock has a 50 day moving average of $56.72 and a 200-day moving average of $53.14. The company has a market capitalization of $14.61 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.25 and a beta of 1.08.

Ball (NYSE:BALL - Get Free Report) last released its quarterly earnings results 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 business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.10 billion. Ball had a return on equity of 16.81% and a net margin of 4.49%. The firm's quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. As a group, equities research analysts predict that Ball Corporation will post 3.48 EPS for the current year.

Ball Announces Dividend

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

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