Envestnet Asset Management Inc. Raises Stock Position in Ball Corporation $BALL

Key Points

• Envestnet Asset Management increased its Ball stake by 3.5% in the second quarter to 647,322 shares valued at about $40.4 million. Institutional investors collectively own 86.51% of Ball.
• Ball reported quarterly EPS of $1.03, exceeding estimates of $0.99, while revenue rose 19.7% year over year to $4 billion. The company also paid a quarterly dividend of $0.20 per share, or $0.80 annualized.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $71.69, though one analyst downgraded the stock to “reduce.” Ball shares opened at $56.78, below the consensus target.

Envestnet Asset Management Inc. grew its stake in shares of Ball Corporation (NYSE:BALL - Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 647,322 shares of the company's stock after buying an additional 22,003 shares during the quarter. Envestnet Asset Management Inc. owned 0.24% of Ball worth $40,393,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Andra AP fonden raised its position in Ball by 8.2% during the second quarter. Andra AP fonden now owns 86,124 shares of the company's stock valued at $5,374,000 after purchasing an additional 6,500 shares in the last quarter. State Street Corp lifted its stake in Ball by 8.3% during the second quarter. State Street Corp now owns 13,416,598 shares of the company's stock worth $837,196,000 after purchasing an additional 1,024,861 shares during the last quarter. IPG Investment Advisors LLC purchased a new position in shares of Ball in the 2nd quarter worth about $1,677,000. National Pension Service boosted its holdings in shares of Ball by 12.4% in the 2nd quarter. National Pension Service now owns 152,525 shares of the company's stock worth $9,518,000 after purchasing an additional 16,844 shares in the last quarter. Finally, Engineers Gate Manager LP increased its position in shares of Ball by 90.7% during the 2nd quarter. Engineers Gate Manager LP now owns 81,799 shares of the company's stock valued at $5,104,000 after purchasing an additional 38,896 shares during the last quarter. 86.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Ball

In other news, SVP Mandy Glew sold 5,626 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $63.80, for a total transaction of $358,938.80. Following the completion of the sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $459,934.20. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.58% of the company's stock.

Ball Stock Down 0.1%

BALL opened at $56.78 on Monday. Ball Corporation has a 12 month low of $44.83 and a 12 month high of $68.29. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 1.13. The business's 50-day moving average price is $62.34 and its 200-day moving average price is $60.43. The company has a market cap of $15.03 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.09 and a beta of 0.95.

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

Ball Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 1st. Ball's dividend payout ratio is 22.66%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BALL shares. Royal Bank Of Canada raised their price objective on Ball from $75.00 to $77.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. Weiss Ratings raised Ball from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. upgraded shares of Ball from a "neutral" rating to an "overweight" rating and set a $65.00 price target on the stock in a research report on Friday, September 18th. Mizuho set a $72.00 price target on shares of Ball in a research note on Wednesday, August 5th. Finally, Citigroup lowered shares of Ball from a "buy" rating to a "reduce" rating in a report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $71.69.

About Ball

Ball Corporation NYSE: BALL is a global manufacturer of sustainable aluminum packaging products. The company primarily serves the beverage, personal care and household-product industries, producing aluminum beverage cans, bottles, aerosol containers and related packaging solutions. Its products are used by brand owners and manufacturers across a range of consumer markets.

Founded in 1880 as a manufacturer of glass containers, Ball gradually transitioned toward metal packaging and became best known for its aluminum beverage-can business.

Want to see what other hedge funds are holding BALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ball Corporation (NYSE:BALL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.