Bank of New York Mellon Corp Takes $143.16 Million Position in Ball Corporation $BALL

Key Points

• Bank of New York Mellon acquired 2.29 million Ball shares worth approximately $143.2 million, representing about 0.86% of the company; institutional investors collectively own 86.51% of Ball.
• Ball exceeded quarterly expectations, reporting adjusted earnings of $1.03 per share versus a $0.99 estimate and revenue of $4 billion, up 19.7% year over year. Analysts expect approximately $4.01 in earnings per share for the current year.
• Ball declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.3% yield. Despite mixed analyst opinions, the stock carries a “Moderate Buy” consensus rating with a $71.69 average price target.

Bank of New York Mellon Corp purchased a new position in shares of Ball Corporation (NYSE:BALL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,294,312 shares of the company's stock, valued at approximately $143,165,000. Bank of New York Mellon Corp owned approximately 0.86% of Ball at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Basecamp Wealth Advisors LLC grew its stake in shares of Ball by 135.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 477 shares of the company's stock worth $28,000 after acquiring an additional 274 shares during the period. Triumph Capital Management purchased a new position in Ball in the 3rd quarter valued at approximately $26,000. Gilpin Wealth Management LLC bought a new stake in Ball during the 4th quarter valued at $29,000. Harbour Investments Inc. raised its holdings in Ball by 44.1% during the 4th quarter. Harbour Investments Inc. now owns 725 shares of the company's stock valued at $38,000 after acquiring an additional 222 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Ball during the second quarter worth $46,000. 86.51% of the stock is owned by institutional investors.

Ball Trading Up 0.0%

NYSE:BALL opened at $63.60 on Monday. Ball Corporation has a one year low of $44.83 and a one year high of $68.29. The business has a fifty day moving average price of $62.09 and a 200-day moving average price of $61.21. The firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.07 and a quick ratio of 0.66.

Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.69 billion. Ball had a net margin of 6.61% and a return on equity of 18.76%. The company's revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. Ball has set its FY 2026 guidance at 3.930- EPS. Sell-side analysts forecast that Ball Corporation will post 4.01 EPS for the current year.

Ball Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 1st. Ball's dividend payout ratio (DPR) is 22.66%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BALL shares. Citigroup downgraded Ball from a "buy" rating to a "reduce" rating in a research report on Wednesday, August 5th. Truist Financial set a $78.00 price objective on shares of Ball in a research note on Wednesday, August 5th. Bank of America increased their target price on shares of Ball from $70.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Mizuho set a $72.00 target price on shares of Ball in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company lifted their target price on shares of Ball from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.69.

Ball Profile

Ball Corporation is a leading provider of sustainable aluminum packaging solutions and advanced aerospace technologies. Headquartered in Broomfield, Colorado, the company serves customers in the beverage, food and aerosol markets through a global network of manufacturing facilities. With an emphasis on sustainability and innovation, Ball designs and produces metal cans, bottles and ends that support recycling and reduce environmental impact.

The company's packaging segment specializes in beverage cans for soft drinks, beer and energy drinks, as well as metal packaging for food and personal care applications.

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