First Manhattan CO. LLC. Boosts Holdings in Ball Corporation $BALL

Key Points

• First Manhattan CO. LLC. increased its holdings in Ball Corporation by 38.2% during the 1st quarter, owning a total of 1,653,305 shares valued at approximately $86.1 million.
• Ball Corporation reported a 12.8% year-over-year increase in quarterly revenue, totaling $3.34 billion, and beat earnings expectations with $0.90 per share.
• The company declared a quarterly dividend of $0.20 per share, with an annualized yield of 1.5%, to be paid out on September 16th.

First Manhattan CO. LLC. raised its holdings in shares of Ball Corporation (NYSE:BALL - Free Report) by 38.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,653,305 shares of the company's stock after purchasing an additional 457,230 shares during the period. First Manhattan CO. LLC. owned 0.60% of Ball worth $86,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ball by 12.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,718 shares of the company's stock worth $2,044,000 after acquiring an additional 4,289 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Ball by 5.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 122,483 shares of the company's stock worth $6,378,000 after acquiring an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Ball by 20.7% in the 1st quarter. Russell Investments Group Ltd. now owns 601,522 shares of the company's stock worth $31,313,000 after acquiring an additional 103,022 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Ball by 12.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 55,997 shares of the company's stock worth $2,916,000 after acquiring an additional 6,106 shares in the last quarter. Finally, PFG Investments LLC bought a new position in shares of Ball in the 1st quarter worth approximately $307,000. Institutional investors own 86.51% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BALL. Citigroup upped their price target on Ball from $55.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Truist Financial raised their target price on Ball from $62.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, July 11th. UBS Group raised their target price on Ball from $54.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Barclays decreased their price target on Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 14th. Finally, Mizuho raised their price objective on Ball from $60.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $65.27.

Ball Trading Up 0.9%

Shares of NYSE:BALL traded up $0.47 during trading hours on Friday, hitting $50.89. 1,549,281 shares of the company's stock traded hands, compared to its average volume of 2,161,734. Ball Corporation has a 1 year low of $43.51 and a 1 year high of $68.12. The business has a fifty day moving average price of $55.65 and a 200-day moving average price of $53.18. The firm has a market capitalization of $13.85 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.00 and a quick ratio of 0.67.

Ball (NYSE:BALL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the business earned $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. Equities analysts expect that Ball Corporation will post 3.48 earnings per share for the current year.

Ball Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Ball's payout ratio is currently 41.45%.

Insider Buying and Selling at Ball

In related news, Chairman Daniel William Fisher sold 3,400 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $51.55, for a total value of $175,270.00. Following the completion of the transaction, the chairman owned 10,036 shares of the company's stock, valued at $517,355.80. The trade was a 25.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.81% of the company's stock.

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.