Ball Corporation $BALL Position Increased by Halbert Hargrove Global Advisors LLC

Key Points

• Halbert Hargrove Global Advisors LLC significantly increased its stake in Ball Corporation by 424.6%, acquiring a total of 47,486 shares during the second quarter, now valued at approximately $2.66 million.
• Ball Corporation reported earnings of $0.90 per share, exceeding expectations, with quarterly revenues of $3.34 billion, a 12.8% increase from last year.
• The company announced a quarterly dividend of $0.20 per share, with a current annualized dividend yield of 1.6% and a payout ratio of 41.45%.

Halbert Hargrove Global Advisors LLC lifted its position in Ball Corporation (NYSE:BALL - Free Report) by 424.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,486 shares of the company's stock after acquiring an additional 38,435 shares during the period. Ball comprises approximately 0.1% of Halbert Hargrove Global Advisors LLC's holdings, making the stock its 25th largest position. Halbert Hargrove Global Advisors LLC's holdings in Ball were worth $2,663,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC acquired a new position in Ball in the 1st quarter worth approximately $32,000. Strengthening Families & Communities LLC boosted its position in shares of Ball by 72.4% in the first quarter. Strengthening Families & Communities LLC now owns 707 shares of the company's stock worth $37,000 after buying an additional 297 shares during the period. SVB Wealth LLC purchased a new position in shares of Ball during the first quarter valued at $39,000. Whipplewood Advisors LLC raised its position in Ball by 764.9% during the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock valued at $42,000 after buying an additional 719 shares during the period. Finally, Federated Hermes Inc. lifted its stake in Ball by 40.4% in the 1st quarter. Federated Hermes Inc. now owns 1,311 shares of the company's stock worth $68,000 after acquiring an additional 377 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company's stock.

Ball Stock Up 0.3%

Ball stock opened at $49.61 on Tuesday. The firm's fifty day simple moving average is $52.94 and its 200-day simple moving average is $52.95. Ball Corporation has a 1-year low of $43.51 and a 1-year high of $68.12. The company has a current ratio of 1.00, a quick ratio of 0.67 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $13.50 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.13 and a beta of 1.06.

Ball (NYSE:BALL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.10 billion. Ball had a return on equity of 16.81% and a net margin of 4.49%.The firm's revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $0.74 earnings per share. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. Sell-side analysts forecast that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Dividend Announcement

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

Insider Buying and Selling

In related news, Chairman Daniel William Fisher sold 3,400 shares of Ball stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $51.55, for a total value 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BALL. Citigroup lowered their target price on Ball from $60.00 to $53.00 and set a "neutral" rating on the stock in a research note on Monday. UBS Group boosted their price objective on shares of Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Truist Financial increased their target price on shares of Ball from $62.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wells Fargo & Company lifted their target price on shares of Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada upped their price target on shares of Ball from $69.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Ball presently has an average rating of "Hold" and a consensus target price of $64.36.

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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