On September 18, 2023, DnB Asset Management AS announced a decrease in its position in Ball Co. (NYSE:BALL) by 3.8% during the second quarter. This information was disclosed in the company’s most recent 13F filing with the Securities and Exchange Commission (SEC). The asset management firm reported owning 87,449 shares of Ball Co.’s stock after selling 3,469 shares during the quarter. As of its most recent filing with the SEC, DnB Asset Management AS’s holdings in Ball Co. were valued at $5,090,000.
The subject of various research analyst reports, Ball Co. has received attention from market experts. Citigroup raised its price target on Ball Co.’s shares from $60.00 to $63.00 and assigned a “neutral” rating to the company in a report on August 4th. Jefferies Financial Group also increased their target price on Ball Co.’s shares from $59.00 to $61.00 in a research report on July 18th.
Bank of America downgraded Ball Co.’s shares from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $65.00 to $63.00 on July 10th.
Wells Fargo & Company upgraded their rating for Ball Co.’s stock from “underweight” to “equal weight” and raised their target price from $52.00 to $55.00 on June 20th.
JPMorgan Chase & Co., meanwhile, lowered their target price on Ball Co.’s shares from $57.00 to $56.00 and assigned it a “neutral” rating on August 10th.
In total, ten equities research analysts have given a hold rating to the stock, while one analyst has designated it as a buy opportunity.
According to Bloomberg, the average rating for Ball Co. is “Hold,” with an average target price of $57.29.
On Monday, BALL opened at $51.68. The company’s quick ratio stands at 0.50, indicating its ability to meet short-term financial obligations quickly. Its current ratio is 0.78, reflecting its ability to cover both short-term and long-term liabilities with its current assets.
Ball Co. has experienced a wide range of trading activity in the past 52 weeks, with its low standing at $46 and its high peaking at $62.14 during this period.
The company currently has a 50-day moving average of $55.34 and a two-hundred-day moving average of $54.65.
As of September 18, 2023, Ball Co. maintains a market capitalization of $16.28 billion.
With a price-to-earnings (P/E) ratio of 20.51 and a P/E growth (P/E/G) ratio of 3.36, Ball Co.’s valuation reflects market expectations for its future earnings growth potential.
Moreover, the stock has shown a beta value of 0.80, indicating that it tends to be less volatile than the overall market.
Investors and shareholders will continue to monitor Ball Co.’s performance closely as they evaluate their investment decisions in light of these factors and analyst recommendations in order to make informed choices about their portfolios going forward.
Updated on: 18/09/2023
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Ball Corporation Attracts Major Investors and Exhibits Strong Financial Performance
September 18, 2023 – Ball Corporation (NYSE: BALL), a leading provider of packaging solutions, has recently attracted the attention of several large investors. Resurgent Financial Advisors LLC, Covington Capital Management, First Horizon Advisors Inc., Harbour Investments Inc., and Trustcore Financial Services LLC have all made significant purchases in Ball shares over the past few quarters. These investments reflect a growing interest in the company and its potential for future growth.
Resurgent Financial Advisors LLC entered the market with a new position in Ball shares during the fourth quarter of last year. The value of their investment amounted to approximately $26,000. Similarly, Covington Capital Management made their move in the third quarter of last year, also investing around $26,000. First Horizon Advisors Inc. joined the trend and purchased a new position worth approximately $30,000 during the fourth quarter. Harbour Investments Inc., on the other hand, increased their holdings in Ball by 112.1% during the first quarter of this year by acquiring an additional 296 shares, bringing their total ownership to 560 shares valued at $31,000. Lastly, Trustcore Financial Services LLC completed their transaction in the fourth quarter with an investment of about $33,000.
The influx of these large investors underscores confidence in Ball’s potential for success and growth within its industry. As hedge funds and other institutional investors now own 84.79% of the company’s stock, it is evident that there is considerable interest in Ball’s performance.
In addition to these investor activities, Ball Corporation experienced some insider trading as well. David A. Kaufman, an insider at Ball Corporation, sold 3,820 shares of the company’s stock on August 23rd at an average price of $52.41 per share. This resulted in a total transaction value of $200,206.20. Following this sale, Kaufman now holds 8,861 shares directly in the company, with a value of approximately $464,405.01.
Another insider involved in stock transactions was VP Deron Goodwin, who sold 500 shares at an average price of $52.85 on August 24th. This resulted in a transaction value of $26,425.00, and Goodwin now directly holds 12,001 shares valued at $634,252.85.
Regarding research analyst reports on Ball Corporation’s performance, several analysts have given their opinions on the stock. Citigroup increased their price target to $63.00 from $60.00 while maintaining a “neutral” rating. Jefferies Financial Group also increased their price target to $61.00 from $59.00 recently. Bank of America downgraded Ball from “buy” to “neutral” and reduced the target price from $65.00 to $63.00.
Wells Fargo & Company upgraded Ball from “underweight” to “equal weight,” raising the target price from $52.00 to $55.00 in June this year. Moreover, JPMorgan Chase & Co revised its rating from neutral rating to equal weight rating and adjusted the target price downwardly from $57.00 to $56.00 earlier this August.
Analysts’ ratings for Ball indicate that there is a hold sentiment surrounding the stock among ten research analysts with only one broker recommending a buy rating for the company’s shares as per data obtained from Bloomberg.
On August 3rd, Ball Corporation released its quarterly earnings data which showed that it had beaten consensus estimates by reporting earnings per share (EPS) of $0.61 rather than the expected EPS of $0.59 – an overall positive financial result for the company.
Ball Corporation experienced a dip in revenue during the latest quarter compared to expectations projected by market analysts; it recorded revenue of approximately $3.57 billion compared to consensus estimates that machinery shipments would raise revenue to $3.84 billion. Despite this, the company’s net margin recorded an impressive figure of 5.48% with a return on equity of 21.43%.
Ball Corporation is expected to post earnings per share (EPS) of $3.03 for the current fiscal year according to analysts’ projections.
Furthermore, Ball has also made dividend distributions to its shareholders. A quarterly dividend was paid on September 15th with a value of $0.20 per share. Shareholders who were recorded as owners on September 1st received this dividend, and the ex-dividend date for this distribution was August 31st.
This dividend represents an annualized payout ratio of 31.75% and results in a yield of roughly 1.55%. Investors looking for stable returns may find Ball’s consistent dividend payments an attractive feature of the stock.
In conclusion, Ball Corporation has drawn the attention of large investors and insider transactions have occurred recently within the company. Analysts have shared their assessments of Ball’s performance, with most rating it as a “hold” stock but offering varying target prices for its shares. Despite a slight revenue decline compared to expectations during its latest quarter, Ball Corporation continues to demonstrate strong financial performance with positive net margins and returns