Ball Corporation $BALL Stock Bought by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. increased its holdings in Ball Corporation (NYSE:BALL) by 6.5% in the third quarter, Holdings Channel reports. The institutional investor owned 622,612 shares of the company’s stock after buying an additional 38,006 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Ball were worth $38,456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Ball in the second quarter valued at approximately $1,310,991,000. State Street Corp increased its stake in Ball by 8.3% during the 2nd quarter. State Street Corp now owns 13,416,598 shares of the company’s stock worth $837,196,000 after acquiring an additional 1,024,861 shares during the period. Dimensional Fund Advisors LP increased its stake in Ball by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,999,409 shares of the company’s stock worth $354,605,000 after acquiring an additional 340,677 shares during the period. Deutsche Bank AG acquired a new position in Ball in the 2nd quarter valued at $163,768,000. Finally, Bank of America Corp DE acquired a new position in Ball in the 2nd quarter valued at $160,506,000. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BALL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded Ball from an “overweight” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Wednesday, November 4th. Royal Bank Of Canada increased their target price on Ball from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Weiss Ratings cut shares of Ball from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Truist Financial reaffirmed a “buy” rating and set a $76.00 price objective (down from $78.00) on shares of Ball in a research report on Wednesday, November 4th. Finally, Citigroup increased their price objective on shares of Ball from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ball has an average rating of “Moderate Buy” and a consensus target price of $72.15.

Ball Stock Performance

Shares of NYSE:BALL opened at $65.39 on Friday. The company’s 50 day simple moving average is $61.65 and its 200 day simple moving average is $61.34. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 1.42 and a beta of 0.94. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.04 and a quick ratio of 0.64. Ball Corporation has a 1 year low of $46.65 and a 1 year high of $69.57.

Ball (NYSE:BALL) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. Ball had a net margin of 3.52% and a return on equity of 18.81%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $1.02 earnings per share. The company’s revenue was up 23.9% on a year-over-year basis. As a group, research analysts predict that Ball Corporation will post 4.00 EPS for the current fiscal year.

Ball Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. Ball’s dividend payout ratio (DPR) is presently 40.20%.

Insider Activity at Ball

In other news, SVP Mandy Glew sold 5,626 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $63.80, for a total transaction of $358,938.80. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $459,934.20. The trade was a 43.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

Ball Company Profile

Ball Corporation is a global supplier of aluminum packaging, best known for making beverage cans and ends for beverage companies. Its products are used for a range of drinks, including beer, soft drinks, energy drinks and other beverages. The company also offers aluminum cups and other specialty packaging products. Ball serves customers across North America, South America, Europe, the Middle East, Africa and Asia. Its packaging operations support beverage brands and producers with manufacturing capabilities in multiple regions.