iA Global Asset Management Inc. Acquires Shares of 9,474 Ball Corporation $BALL

iA Global Asset Management Inc. acquired a new stake in Ball Corporation (NYSE:BALL) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 9,474 shares of the company’s stock, valued at approximately $531,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EP Wealth Advisors LLC increased its stake 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 valued at $228,000 after buying an additional 205 shares during the period. Nordea Investment Management AB increased its stake in shares of Ball by 48.3% during the second quarter. Nordea Investment Management AB now owns 72,657 shares of the company’s stock valued at $4,074,000 after buying an additional 23,657 shares during the period. Russell Investments Group Ltd. grew its stake in Ball by 20.7% in the first quarter. Russell Investments Group Ltd. now owns 601,522 shares of the company’s stock worth $31,313,000 after purchasing an additional 103,022 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Ball by 22.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 84,503 shares of the company’s stock worth $4,399,000 after purchasing an additional 15,300 shares during the period. Finally, Inspire Trust Co. N.A. grew its stake in Ball by 9.3% in the first quarter. Inspire Trust Co. N.A. now owns 59,000 shares of the company’s stock worth $3,072,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 86.51% of the company’s stock.

Analyst Upgrades and Downgrades

BALL has been the topic of several recent research reports. Citigroup reduced their price target on Ball from $60.00 to $53.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Wells Fargo & Company reduced their price target on Ball from $54.00 to $48.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 15th. Truist Financial reduced their price target on Ball from $69.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Raymond James Financial initiated coverage on Ball in a research note on Wednesday, October 15th. They issued a “market perform” rating on the stock. Finally, Mizuho reduced their price target on Ball from $68.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.36.

Ball Trading Up 0.1%

Ball stock opened at $47.05 on Tuesday. 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 business’s fifty day simple moving average is $49.52 and its two-hundred day simple moving average is $52.85. Ball Corporation has a 12 month low of $43.51 and a 12 month high of $63.35. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.09 and a beta of 1.09.

Ball (NYSE:BALL) last released its earnings results on Tuesday, August 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Ball had a return on equity of 16.81% and a net margin of 4.49%.The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, December 1st. Ball’s payout ratio is 41.45%.

Insider Buying and Selling

In other news, Chairman Daniel William Fisher sold 3,400 shares of the company’s stock in a transaction 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 transaction, the chairman directly owned 10,036 shares of the company’s stock, valued at $517,355.80. This represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.81% of the company’s stock.

Ball Company 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.