Ball Corporation $BALL Stock Position Lowered by Elefante Mark B

Key Points

• Elefante Mark B reduced its position in Ball Corporation by 66.7%, selling 18,762 shares, and now holds 9,365 shares valued at approximately $525,000.
• Ball Corporation's quarterly earnings showed a 12.8% year-over-year revenue increase, reporting $3.34 billion for the quarter, and exceeded analysts' estimates for earnings per share.
• The company recently declared a quarterly dividend of $0.20 per share, representing an annualized yield of 1.7%, with a payout ratio of 41.45%.

Elefante Mark B lessened its position in Ball Corporation (NYSE:BALL - Free Report) by 66.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,365 shares of the company's stock after selling 18,762 shares during the period. Elefante Mark B's holdings in Ball were worth $525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BALL. Brighton Jones LLC raised its stake in shares of Ball by 41.2% in the 4th quarter. Brighton Jones LLC now owns 5,245 shares of the company's stock worth $289,000 after buying an additional 1,531 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Ball by 51.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,474 shares of the company's stock worth $77,000 after buying an additional 500 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Ball by 6.0% in the 1st quarter. GAMMA Investing LLC now owns 3,852 shares of the company's stock worth $201,000 after buying an additional 219 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Ball in the 1st quarter worth $382,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Ball by 53.0% during the first quarter. Assenagon Asset Management S.A. now owns 38,289 shares of the company's stock worth $1,994,000 after purchasing an additional 13,262 shares during the period. Institutional investors own 86.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BALL. Bank of America reaffirmed a "neutral" rating and set a $66.00 target price (down from $67.00) on shares of Ball in a research report on Wednesday, July 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ball in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on Ball from $69.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Truist Financial cut their target price on Ball from $69.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Mizuho cut their target price on Ball from $68.00 to $61.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $62.91.

Insiders Place Their Bets

In related news, Chairman Daniel William Fisher sold 3,400 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $51.55, for a total transaction of $175,270.00. Following the transaction, the chairman directly owned 10,036 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.57% of the company's stock.

Ball Stock Down 0.1%

NYSE:BALL opened at $47.06 on Tuesday. The firm has a market capitalization of $12.81 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.08 and a beta of 1.09. Ball Corporation has a 1-year low of $43.51 and a 1-year high of $67.84. 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 business's fifty day moving average price is $51.05 and its 200 day moving average price is $52.79.

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

Ball Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Ball's payout ratio is presently 41.45%.

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.

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