Stock Traders Buy High Volume of Put Options on Ball (NYSE:BALL)

Ball Co. (NYSE:BALL) was the target of some unusual options trading activity on Friday. Stock traders acquired 13,336 put options on the company. This represents an increase of approximately 1,214% compared to the average volume of 1,015 put options.

Ball Stock Performance

Shares of BALL stock opened at $50.69 on Friday. The company’s fifty day simple moving average is $52.47 and its 200-day simple moving average is $58.43. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $14.31 billion, a PE ratio of 4.00, a P/E/G ratio of 1.24 and a beta of 0.99. Ball has a 12 month low of $48.95 and a 12 month high of $71.32.

Ball (NYSE:BALL) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Ball had a net margin of 33.98% and a return on equity of 16.17%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts expect that Ball will post 3.48 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Monday, March 3rd. Ball’s payout ratio is presently 6.32%.

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

Analysts Set New Price Targets

BALL has been the topic of a number of research analyst reports. Citigroup lowered their target price on shares of Ball from $69.00 to $59.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company reiterated an “underweight” rating and issued a $49.00 target price (down from $56.00) on shares of Ball in a research note on Thursday, January 16th. Robert W. Baird lowered their target price on shares of Ball from $70.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Mizuho upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 target price on the stock in a research note on Tuesday, December 10th. Finally, Truist Financial decreased their price target on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $64.64.

Hedge Funds Weigh In On Ball

Large investors have recently modified their holdings of the stock. Picton Mahoney Asset Management raised its position in shares of Ball by 68.9% in the fourth quarter. Picton Mahoney Asset Management now owns 522 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Ball by 328.4% in the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company’s stock valued at $37,000 after acquiring an additional 509 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Ball in the third quarter valued at about $66,000. Parvin Asset Management LLC acquired a new position in shares of Ball in the fourth quarter valued at about $70,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Ball in the fourth quarter valued at about $76,000. 86.51% of the stock is owned by institutional investors.

About Ball

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.