Ball Target of Unusually Large Options Trading (NYSE:BALL)

Ball Co. (NYSE:BALL) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 10,824 put options on the stock. This is an increase of 1,181% compared to the average volume of 845 put options.

Ball Price Performance

NYSE:BALL traded down $4.07 during trading hours on Tuesday, reaching $51.61. The company had a trading volume of 2,467,429 shares, compared to its average volume of 2,429,131. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $56.42 and a two-hundred day moving average of $61.21. Ball has a one year low of $51.02 and a one year high of $71.32. The firm has a market capitalization of $15.40 billion, a PE ratio of 3.88, a PEG ratio of 1.39 and a beta of 0.94.

Ball (NYSE:BALL) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Ball had a net margin of 34.05% and a return on equity of 17.46%. Analysts forecast that Ball will post 3.15 earnings per share for the current year.

Ball Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.55%. Ball’s dividend payout ratio (DPR) is currently 6.03%.

Ball declared that its Board of Directors has approved a share buyback plan on Wednesday, January 29th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 24.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BALL shares. Truist Financial dropped their price objective on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group upgraded Ball from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $58.00 in a report on Friday, January 10th. Wells Fargo & Company restated an “underweight” rating and issued a $49.00 target price (down previously from $56.00) on shares of Ball in a research note on Thursday, January 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price target on shares of Ball in a report on Monday, November 4th. Finally, Citigroup lowered their price target on Ball from $69.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.17.

Institutional Investors Weigh In On Ball

A number of institutional investors and hedge funds have recently made changes to their positions in BALL. FMR LLC boosted its stake in Ball by 15.4% in the third quarter. FMR LLC now owns 4,418,570 shares of the company’s stock valued at $300,065,000 after acquiring an additional 588,282 shares during the last quarter. First Merchants Corp boosted its position in shares of Ball by 1,335.8% in the 4th quarter. First Merchants Corp now owns 619,205 shares of the company’s stock worth $34,137,000 after purchasing an additional 576,078 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Ball by 4.7% during the third quarter. Franklin Resources Inc. now owns 6,954,876 shares of the company’s stock worth $453,144,000 after purchasing an additional 309,587 shares during the period. Van ECK Associates Corp increased its holdings in Ball by 3,599.7% in the fourth quarter. Van ECK Associates Corp now owns 317,321 shares of the company’s stock valued at $17,494,000 after purchasing an additional 308,744 shares during the last quarter. Finally, KBC Group NV lifted its stake in Ball by 402.1% in the third quarter. KBC Group NV now owns 265,261 shares of the company’s stock valued at $18,014,000 after buying an additional 212,430 shares during the period. Institutional investors own 86.51% 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.