Ball Co. (NYSE:BALL - Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 6,130,000 shares, a growth of 6.4% from the September 30th total of 5,760,000 shares. Based on an average daily volume of 1,460,000 shares, the short-interest ratio is currently 4.2 days. Currently, 2.0% of the company's stock are sold short.
Hedge Funds Weigh In On Ball
A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Ball by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 35,855,312 shares of the company's stock valued at $2,415,214,000 after acquiring an additional 267,479 shares in the last quarter. Boston Partners raised its stake in Ball by 114.1% in the first quarter. Boston Partners now owns 4,057,645 shares of the company's stock valued at $273,347,000 after purchasing an additional 2,162,167 shares in the last quarter. Mirova US LLC lifted its position in Ball by 0.5% during the second quarter. Mirova US LLC now owns 2,495,497 shares of the company's stock valued at $149,780,000 after purchasing an additional 13,320 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Ball by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,414,615 shares of the company's stock valued at $144,951,000 after purchasing an additional 171,924 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Ball by 6.1% in the 3rd quarter. Raymond James & Associates now owns 1,720,859 shares of the company's stock worth $116,864,000 after buying an additional 99,306 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
BALL has been the subject of a number of analyst reports. UBS Group increased their price target on Ball from $56.00 to $59.00 and gave the company a "sell" rating in a research report on Tuesday, August 6th. Robert W. Baird upgraded shares of Ball from a "neutral" rating to an "outperform" rating and set a $70.00 price target on the stock in a report on Wednesday, August 14th. Royal Bank of Canada decreased their price objective on shares of Ball from $77.00 to $75.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Baird R W raised Ball from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 14th. Finally, Truist Financial restated a "buy" rating and issued a $78.00 price objective (up previously from $76.00) on shares of Ball in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.92.
Get Our Latest Report on Ball
Ball Stock Performance
BALL traded down $0.24 on Friday, hitting $59.01. The company's stock had a trading volume of 1,867,382 shares, compared to its average volume of 1,805,830. The company's 50 day simple moving average is $65.18 and its 200-day simple moving average is $65.01. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79. Ball has a 12 month low of $47.56 and a 12 month high of $71.32. The firm has a market cap of $17.91 billion, a P/E ratio of 4.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.88.
Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Ball had a return on equity of 19.45% and a net margin of 32.79%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $0.83 earnings per share. The business's revenue for the quarter was down .9% on a year-over-year basis. Analysts forecast that Ball will post 3.12 EPS for the current year.
Ball Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, December 2nd. Ball's dividend payout ratio is presently 6.04%.
About Ball
(
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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.
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