Broyhill Asset Management LLC Acquires 4,908 Shares of Ball Corporation $BALL

Key Points

• Broyhill Asset Management LLC increased its position in Ball Corporation by 8.1% in Q1, acquiring an additional 4,908 shares, totaling over $3.4 million in value.
• Ball Corporation reported a 12.8% year-over-year revenue increase with earnings per share of $0.90 for the last quarter, exceeding analyst estimates.
• The company announced a quarterly dividend of $0.20 per share, with an annualized yield of 1.5%, scheduled for payment on September 16th.

Broyhill Asset Management LLC raised its holdings in shares of Ball Corporation (NYSE:BALL - Free Report) by 8.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,388 shares of the company's stock after buying an additional 4,908 shares during the period. Ball comprises 2.8% of Broyhill Asset Management LLC's portfolio, making the stock its 13th largest holding. Broyhill Asset Management LLC's holdings in Ball were worth $3,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC purchased a new stake in Ball during the first quarter valued at approximately $32,000. Strengthening Families & Communities LLC increased its holdings in Ball by 72.4% during the first quarter. Strengthening Families & Communities LLC now owns 707 shares of the company's stock valued at $37,000 after buying an additional 297 shares during the last quarter. SVB Wealth LLC purchased a new stake in Ball during the first quarter valued at approximately $39,000. Whipplewood Advisors LLC increased its holdings 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 last quarter. Finally, Parvin Asset Management LLC purchased a new stake in Ball during the fourth quarter valued at approximately $70,000. 86.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Daniel William Fisher sold 3,400 shares of the firm's stock in a transaction 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 approximately $517,355.80. This trade represents a 25.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.81% of the company's stock.

Ball Price Performance

BALL traded up $0.54 during trading on Friday, hitting $52.61. 1,787,849 shares of the company traded hands, compared to its average volume of 2,685,026. The company has a market cap of $14.32 billion, a PE ratio of 27.26, a P/E/G ratio of 1.20 and a beta of 1.08. The stock's 50-day simple moving average is $56.23 and its two-hundred day simple moving average is $53.16. 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.

Ball (NYSE:BALL - Get Free Report) last posted its 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 company 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%. Ball's quarterly revenue was up 12.8% on a year-over-year basis. During the same period last 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 anticipate that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Ball's dividend payout ratio (DPR) is presently 41.45%.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group upped their target price on shares of Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wells Fargo & Company upped 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. Loop Capital reduced their price objective on shares of Ball from $83.00 to $78.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Bank of America reissued a "neutral" rating and issued a $66.00 price objective (down from $67.00) on shares of Ball in a research note on Wednesday, July 9th. Finally, Mizuho increased their price objective on shares of Ball from $60.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.