Advisors Capital Management LLC Lowers Stake in Ball Corporation $BALL

Key Points

• Advisors Capital Management LLC significantly reduced its stake in Ball Corporation by 87.1%, owning 7,214 shares after selling 48,512 shares in the first quarter.
• Several institutional investors, including JPMorgan Chase & Co. and DekaBank Deutsche Girozentrale, increased their positions in Ball Corporation, reflecting a strong institutional interest with 86.51% of shares held by funds.
• Ball Corporation recently reported earnings of $0.90 per share, exceeding expectations, and announced a quarterly dividend of $0.20 per share, which represents a 1.6% yield.

Advisors Capital Management LLC lowered its stake in shares of Ball Corporation (NYSE:BALL - Free Report) by 87.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,214 shares of the company's stock after selling 48,512 shares during the quarter. Advisors Capital Management LLC's holdings in Ball were worth $376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BALL. JPMorgan Chase & Co. raised its position in shares of Ball by 44.2% during the 1st quarter. JPMorgan Chase & Co. now owns 8,002,327 shares of the company's stock valued at $416,681,000 after buying an additional 2,453,630 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Ball by 359.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,184,629 shares of the company's stock valued at $60,299,000 after buying an additional 926,728 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Ball during the 1st quarter valued at $47,606,000. First Manhattan CO. LLC. raised its position in shares of Ball by 38.2% during the 1st quarter. First Manhattan CO. LLC. now owns 1,653,305 shares of the company's stock valued at $86,088,000 after buying an additional 457,230 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Ball by 35.5% during the 1st quarter. Deutsche Bank AG now owns 1,733,004 shares of the company's stock valued at $90,238,000 after buying an additional 454,155 shares in the last quarter. Hedge funds and other institutional investors own 86.51% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho raised their price objective on shares of Ball from $60.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada increased their target price on shares of Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Citigroup increased their target price on shares of Ball from $55.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Wells Fargo & Company increased their target price on shares of Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Finally, Truist Financial increased their target price on shares of Ball from $62.00 to $69.00 and gave the company a "buy" rating in a report on Friday, July 11th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.27.

Insider Buying and Selling at Ball

In other news, Chairman Daniel William Fisher sold 3,400 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $51.55, for a total transaction of $175,270.00. Following the completion of the transaction, the chairman directly owned 10,036 shares of the company's stock, valued at $517,355.80. The trade was a 25.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by insiders.

Ball Stock Up 0.2%

Shares of Ball stock opened at $51.24 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.67 and a current ratio of 1.00. The stock has a market capitalization of $13.94 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. Ball Corporation has a 52-week low of $43.51 and a 52-week high of $68.12. The company has a 50-day simple moving average of $54.93 and a two-hundred day simple moving average of $53.19.

Ball (NYSE:BALL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.10 billion. Ball had a net margin of 4.49% and a return on equity of 16.81%. The business's revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Ball's payout ratio is presently 41.45%.

Ball 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.

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