NorthCrest Asset Manangement LLC Acquires 121,980 Shares of Ball Corporation $BALL

Key Points

• NorthCrest Asset Management increased its Ball holdings by 2,294.2% in the third quarter, acquiring 121,980 additional shares and ending with a 127,297-share stake worth approximately $7.13 million. Institutional investors collectively own 86.51% of BALL.
• Analyst sentiment remains generally positive, with 10 Buy ratings, two Holds and one Sell rating. Ball has a consensus rating of “Moderate Buy” and an average price target of $71.15.
• Ball exceeded quarterly earnings expectations, reporting $1.03 in EPS and $4.0 billion in revenue, with revenue up 19.7% year over year. The company also maintains a quarterly dividend of $0.20 per share, equivalent to a 1.3% yield.

NorthCrest Asset Manangement LLC grew its holdings in Ball Corporation (NYSE:BALL - Free Report) by 2,294.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,297 shares of the company's stock after buying an additional 121,980 shares during the period. NorthCrest Asset Manangement LLC's holdings in Ball were worth $7,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BALL. Versant Capital Management Inc raised its position in Ball by 12.0% during the third quarter. Versant Capital Management Inc now owns 6,475 shares of the company's stock valued at $363,000 after purchasing an additional 695 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Ball by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 647,322 shares of the company's stock valued at $40,393,000 after purchasing an additional 22,003 shares during the last quarter. Andra AP fonden increased its position in shares of Ball by 8.2% during the 2nd 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 during the last quarter. State Street Corp increased its position in shares of Ball by 8.3% during the 2nd quarter. State Street Corp now owns 13,416,598 shares of the company's stock valued at $837,196,000 after purchasing an additional 1,024,861 shares during the last quarter. Finally, IPG Investment Advisors LLC purchased a new stake in Ball during the 2nd quarter valued at $1,677,000. 86.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on BALL shares. UBS Group lowered their price target on Ball from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Monday, October 5th. Wells Fargo & Company lifted their price objective on shares of Ball from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Bank of America boosted their price objective on shares of Ball from $70.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Truist Financial set a $78.00 price objective on shares of Ball in a research report on Wednesday, August 5th. Finally, Citigroup downgraded shares of Ball from a "buy" rating to a "reduce" rating in a research note on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $71.15.

Insider Buying and Selling at Ball

In other news, SVP Mandy Glew sold 5,626 shares of Ball stock in a transaction 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 directly owned 7,209 shares in the company, valued at approximately $459,934.20. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company's stock.

Ball Trading Up 0.7%

Shares of NYSE BALL opened at $59.60 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.66 and a current ratio of 1.07. The business's 50 day moving average price is $60.75 and its 200-day moving average price is $60.18. Ball Corporation has a fifty-two week low of $44.83 and a fifty-two week high of $68.29. The company has a market cap of $15.78 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.12 and a beta of 0.96.

Ball (NYSE:BALL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. Ball had a return on equity of 18.76% and a net margin of 6.61%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company earned $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, sell-side analysts expect that Ball Corporation will post 4.01 earnings per share for the current year.

Ball Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. Ball's dividend payout ratio (DPR) is presently 22.66%.

Ball Profile

Ball Corporation NYSE: BALL is a global packaging company that develops and manufactures sustainable aluminum packaging products. Its portfolio primarily includes aluminum beverage cans and bottles, aerosol containers, and other specialty packaging used by beverage, personal care, household and food companies. Ball also produces aluminum cups and related packaging solutions designed to support recycling and reduce reliance on single-use plastic.

Founded in 1880 by the Ball brothers, the company originally became known for glass home-canning jars before expanding into metal packaging.

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.