Mirae Asset Global Investments Co. Ltd. Raises Holdings in Ball Corporation $BALL

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ball Corporation (NYSE:BALL) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,861 shares of the company’s stock after purchasing an additional 1,143 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ball were worth $2,292,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. EP Wealth Advisors LLC grew its holdings in shares of Ball by 4.9% during the first quarter. EP Wealth Advisors LLC now owns 4,371 shares of the company’s stock worth $228,000 after purchasing an additional 205 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Ball by 5.0% during the first quarter. Asset Management One Co. Ltd. now owns 122,483 shares of the company’s stock worth $6,378,000 after buying an additional 5,841 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Ball by 20.7% during the first quarter. Russell Investments Group Ltd. now owns 601,522 shares of the company’s stock worth $31,313,000 after buying an additional 103,022 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Ball by 12.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 55,997 shares of the company’s stock worth $2,916,000 after buying an additional 6,106 shares during the period. Finally, PFG Investments LLC acquired a new stake in shares of Ball during the first quarter worth about $307,000. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Ball Price Performance

BALL stock opened at $48.72 on Thursday. The firm has a 50 day moving average of $51.65 and a 200-day moving average of $52.85. Ball Corporation has a 12-month low of $43.51 and a 12-month high of $67.84. The company has a current ratio of 1.00, a quick ratio of 0.67 and a debt-to-equity ratio of 1.23. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.10 and a beta of 1.09.

Ball (NYSE:BALL) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, equities analysts expect that Ball Corporation will post 3.48 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, September 2nd. Ball’s payout ratio is currently 41.45%.

Insider Activity

In related news, Chairman Daniel William Fisher sold 3,400 shares of Ball stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $51.55, for a total transaction of $175,270.00. Following the completion of the transaction, the chairman directly owned 10,036 shares in the company, valued at $517,355.80. The trade was a 25.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BALL shares. Wells Fargo & Company increased their target price on shares of Ball from $50.00 to $54.00 and gave the stock an “underweight” rating in a research note on Friday, July 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ball in a research note on Wednesday. Truist Financial raised their price objective 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. Bank of America restated a “neutral” rating and issued a $66.00 price objective (down previously from $67.00) on shares of Ball in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada raised their price objective 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. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.27.

About Ball

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.