Ethic Inc. Sells 6,709 Shares of Ball Corporation $BALL

Key Points

• Ethic Inc. reduced its stake in Ball Corporation by 16.4% during Q1, now holding 34,210 shares valued at approximately $1.79 million.
• Ball Corporation reported Q2 earnings of $0.90 per share, surpassing estimates, and revenue of $3.34 billion, marking a 12.8% increase from the previous year.
• The company declared a quarterly dividend of $0.20 per share, with an ex-dividend date set for September 2nd, resulting in an annualized dividend yield of 1.5%.

Ethic Inc. cut its holdings in shares of Ball Corporation (NYSE:BALL - Free Report) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,210 shares of the company's stock after selling 6,709 shares during the period. Ethic Inc.'s holdings in Ball were worth $1,793,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in shares of Ball by 44.2% during the first quarter. JPMorgan Chase & Co. now owns 8,002,327 shares of the company's stock valued at $416,681,000 after buying an additional 2,453,630 shares during the period. Invesco Ltd. increased its stake in shares of Ball by 5.1% during the first quarter. Invesco Ltd. now owns 4,370,274 shares of the company's stock valued at $227,560,000 after buying an additional 210,838 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Ball by 10.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,370,532 shares of the company's stock valued at $175,480,000 after buying an additional 315,091 shares during the period. London Co. of Virginia increased its stake in shares of Ball by 61.1% during the fourth quarter. London Co. of Virginia now owns 3,054,393 shares of the company's stock valued at $168,389,000 after buying an additional 1,158,668 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Ball by 15.1% during the fourth quarter. Northern Trust Corp now owns 3,026,421 shares of the company's stock valued at $166,847,000 after buying an additional 396,633 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Ball Stock Up 1.9%

Ball stock traded up $0.9930 during mid-day trading on Friday, hitting $53.7030. The company had a trading volume of 2,529,319 shares, compared to its average volume of 2,709,012. 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 stock's 50 day moving average price is $56.56 and its two-hundred day moving average price is $53.09. Ball Corporation has a 12 month low of $43.51 and a 12 month high of $68.12. The company has a market capitalization of $14.62 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.08.

Ball (NYSE:BALL - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Ball had a return on equity of 16.81% and a net margin of 4.49%.The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $0.20 dividend. 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 payout ratio is 41.45%.

Analyst Upgrades and Downgrades

BALL has been the topic of several research analyst reports. Mizuho boosted their target price on Ball from $60.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Barclays dropped their price target on Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 14th. Bank of America restated a "neutral" rating and set a $66.00 price target (down from $67.00) on shares of Ball in a research report on Wednesday, July 9th. Royal Bank Of Canada lifted their price target on Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Truist Financial lifted their price target on Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $65.27.

Ball 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.