Lombard Odier Asset Management Europe Ltd Purchases 72,270 Shares of Ball Co. (NYSE:BALL)

Lombard Odier Asset Management Europe Ltd raised its position in Ball Co. (NYSE:BALL) by 686.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 82,796 shares of the company’s stock after purchasing an additional 72,270 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Ball were worth $4,969,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. 9258 Wealth Management LLC bought a new stake in Ball during the fourth quarter valued at $210,000. UBS Group AG grew its stake in Ball by 69.7% during the fourth quarter. UBS Group AG now owns 592,488 shares of the company’s stock worth $34,080,000 after purchasing an additional 243,404 shares during the period. Wells Fargo & Company MN increased its holdings in Ball by 8.2% in the fourth quarter. Wells Fargo & Company MN now owns 429,928 shares of the company’s stock worth $24,729,000 after purchasing an additional 32,475 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Ball during the 4th quarter worth approximately $1,557,000. Finally, Assetmark Inc. grew its position in shares of Ball by 5.2% during the 4th quarter. Assetmark Inc. now owns 29,674 shares of the company’s stock worth $1,707,000 after buying an additional 1,478 shares during the period. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on BALL. Royal Bank of Canada reduced their price objective on Ball from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Morgan Stanley upgraded shares of Ball from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. UBS Group raised their price objective on shares of Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Truist Financial reissued a “buy” rating and set a $78.00 target price (up from $76.00) on shares of Ball in a research report on Friday, August 2nd. Finally, Robert W. Baird upgraded Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.83.

Ball Stock Performance

NYSE BALL opened at $66.31 on Monday. The firm has a market cap of $20.58 billion, a P/E ratio of 4.99, a price-to-earnings-growth ratio of 1.64 and a beta of 0.88. Ball Co. has a 12-month low of $42.81 and a 12-month high of $71.32. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $63.70 and its 200-day moving average is $65.15.

Ball (NYSE:BALL) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.10 billion. Ball had a return on equity of 19.45% and a net margin of 32.79%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. Sell-side analysts predict that Ball Co. will post 3.12 earnings per share for the current year.

Ball Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.21%. The ex-dividend date was Tuesday, September 3rd. Ball’s dividend payout ratio is presently 6.02%.

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.