Iridian Asset Management LLC CT Raises Stake in Ball Corporation $BALL

Iridian Asset Management LLC CT lifted its stake in shares of Ball Corporation (NYSE:BALL) by 73.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,624 shares of the company’s stock after purchasing an additional 19,776 shares during the quarter. Iridian Asset Management LLC CT’s holdings in Ball were worth $2,351,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BALL. Rosenberg Matthew Hamilton boosted its holdings in Ball by 145.0% during the second quarter. Rosenberg Matthew Hamilton now owns 517 shares of the company’s stock worth $29,000 after buying an additional 306 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Ball in the second quarter valued at about $46,000. SJS Investment Consulting Inc. lifted its position in shares of Ball by 4,236.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 824 shares of the company’s stock valued at $42,000 after acquiring an additional 805 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Ball during the 2nd quarter valued at approximately $47,000. Finally, IFP Advisors Inc boosted its stake in shares of Ball by 103.2% during the 2nd quarter. IFP Advisors Inc now owns 1,142 shares of the company’s stock worth $68,000 after acquiring an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Ball Stock Performance

Ball stock opened at $55.60 on Monday. Ball Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $60.28. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.10 and a beta of 1.14. The stock has a fifty day moving average of $50.19 and a two-hundred day moving average of $51.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.72 and a current ratio of 1.11.

Ball (NYSE:BALL) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.02. The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.32 billion. Ball had a return on equity of 17.89% and a net margin of 5.36%.The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. On average, analysts anticipate that Ball Corporation will post 3.48 EPS for the current fiscal year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, December 1st. Ball’s dividend payout ratio (DPR) is currently 32.52%.

Analysts Set New Price Targets

Several research firms recently weighed in on BALL. Raymond James Financial started coverage on Ball in a research note on Wednesday, October 15th. They issued a “market perform” rating for the company. Citigroup raised Ball from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $67.00 in a report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Ball in a research report on Monday, December 29th. Truist Financial lifted their price target on Ball from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $63.00 price objective on shares of Ball and gave the stock an “equal weight” rating in a research report on Thursday. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Ball currently has a consensus rating of “Moderate Buy” and an average target price of $62.83.

About Ball

Ball Corporation is a leading provider of sustainable aluminum packaging solutions and advanced aerospace technologies. Headquartered in Broomfield, Colorado, the company serves customers in the beverage, food and aerosol markets through a global network of manufacturing facilities. With an emphasis on sustainability and innovation, Ball designs and produces metal cans, bottles and ends that support recycling and reduce environmental impact.

The company’s packaging segment specializes in beverage cans for soft drinks, beer and energy drinks, as well as metal packaging for food and personal care applications.