Ball Corporation $BALL Shares Sold by Addenda Capital Inc.

Key Points

• Addenda Capital Inc. reduced its stake in Ball Corporation by 47.8%, resulting in ownership of 54,718 shares valued at $3,069,000.
• Ball Corporation reported earnings of $0.90 per share for the last quarter, exceeding analysts' expectations, with a revenue of $3.34 billion.
• The company's recent quarterly dividend was $0.20 per share, reflecting a 1.6% dividend yield with a payout ratio of 41.45%.

Addenda Capital Inc. lowered its stake in Ball Corporation (NYSE:BALL - Free Report) by 47.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,718 shares of the company's stock after selling 50,110 shares during the quarter. Addenda Capital Inc.'s holdings in Ball were worth $3,069,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in BALL. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ball by 12.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,718 shares of the company's stock worth $2,044,000 after buying an additional 4,289 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Ball by 4.9% in the 1st quarter. EP Wealth Advisors LLC now owns 4,371 shares of the company's stock valued at $228,000 after buying an additional 205 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Ball by 5.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 122,483 shares of the company's stock valued at $6,378,000 after purchasing an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Ball by 20.7% during the first quarter. Russell Investments Group Ltd. now owns 601,522 shares of the company's stock worth $31,313,000 after buying an additional 103,022 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Ball by 12.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 55,997 shares of the company's stock valued at $2,916,000 after acquiring an additional 6,106 shares during the last quarter. Institutional investors and hedge funds own 86.51% of the company's stock.

Ball Stock Performance

Shares of NYSE:BALL opened at $49.50 on Friday. Ball Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $68.12. The firm's 50 day simple moving average is $53.10 and its 200 day simple moving average is $52.96. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.00 and a quick ratio of 0.67. The company has a market capitalization of $13.47 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.13 and a beta of 1.06.

Ball (NYSE:BALL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. The business had revenue of $3.34 billion during 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 for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, sell-side analysts forecast that Ball Corporation will post 3.48 earnings per share for the current year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were 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 was Tuesday, September 2nd. Ball's payout ratio is currently 41.45%.

Insider Activity at Ball

In other news, Chairman Daniel William Fisher sold 3,400 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $51.55, for a total value of $175,270.00. Following the completion of the sale, the chairman directly owned 10,036 shares of the company's stock, valued at approximately $517,355.80. This represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BALL has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on Ball from $50.00 to $54.00 and gave the stock an "underweight" rating in a report on Friday, July 18th. UBS Group upped their price objective on shares of Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada lifted their target price on shares of Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Bank of America reaffirmed a "neutral" rating and issued a $66.00 price target (down previously from $67.00) on shares of Ball in a research report on Wednesday, July 9th. Finally, Citigroup increased their price objective on shares of Ball from $55.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $65.27.

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.

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