Rakuten Investment Management Inc. Makes New $2.65 Million Investment in Ball Corporation $BALL

Rakuten Investment Management Inc. bought a new position in shares of Ball Corporation (NYSE:BALL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 46,746 shares of the company’s stock, valued at approximately $2,648,000.

A number of other large investors have also recently made changes to their positions in BALL. BlackRock Inc. purchased a new position in shares of Ball in the second quarter valued at $1,310,991,000. State Street Corp lifted its holdings 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 purchasing an additional 1,024,861 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 purchasing an additional 340,677 shares in the last quarter. Deutsche Bank AG purchased a new stake in Ball during the 2nd quarter worth about $163,768,000. Finally, Bank of America Corp DE bought a new position in Ball in the 2nd quarter worth about $160,506,000. 86.51% of the stock is owned by institutional investors.

Ball Price Performance

NYSE:BALL opened at $65.88 on Friday. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 1.44 and a beta of 0.94. Ball Corporation has a 52-week low of $46.06 and a 52-week high of $69.57. The stock has a fifty day moving average of $61.38 and a 200 day moving average of $61.11. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.66 and a current ratio of 1.04.

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

Ball Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend 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

In other news, SVP Mandy Glew sold 5,626 shares of Ball stock in a transaction dated 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 sale, the senior vice president owned 7,209 shares in the company, valued at approximately $459,934.20. This trade represents a 43.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BALL. UBS Group lifted their target price on Ball from $63.00 to $68.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company lowered their price target on shares of Ball from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Mizuho raised their price objective on shares of Ball from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank Of Canada boosted their price objective on shares of Ball from $73.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Citigroup upped their target price on shares of Ball from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.15.

Ball News Summary

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Citigroup raised its price target to $77 from $75 and maintained a Buy rating; RBC also lifted its target to $77, from $73, and kept its Outperform rating. Both targets imply about 17% upside from the cited $65.88 share price. Citigroup price-target report RBC analyst recommendations
• Positive Sentiment: Truist reiterated its Buy rating, signaling continued confidence in Ball’s prospects. Truist rating report
• Neutral Sentiment: UBS raised its target to $68 from $63 but kept a Neutral rating, suggesting a more modest view of potential gains. UBS price-target report
• Neutral Sentiment: Mizuho set a new $75 price target. Ball’s reported consensus target is $71.46, reflecting generally positive expectations but some variation among analysts. Mizuho price-target report Consensus price-target report
• Negative Sentiment: JPMorgan cut Ball’s rating to Neutral, a cautious counterpoint to the recent target increases. JPMorgan rating report

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.

Founded in 1880 as a glass-jar business, Ball grew into a major packaging company and later operated an aerospace business.