Notis McConarty Edward Has $1 Million Holdings in Ball Corporation $BALL

Key Points

• Notis McConarty Edward reduced its holdings in Ball Corporation by 59.3%, now owning 17,830 shares valued at approximately $1 million.
• Multiple institutional investors have been active in Ball Corporation, with firms like Evermay Wealth Management and EP Wealth Advisors increasing their stakes in the company during the first quarter.
• Ball Corporation recently reported earnings that exceeded analysts' expectations, with a quarterly revenue of $3.34 billion, up 12.8% year-over-year, and a quarterly dividend of $0.20 per share, yielding 1.6%.

Notis McConarty Edward cut its position in Ball Corporation (NYSE:BALL - Free Report) by 59.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,830 shares of the company's stock after selling 25,960 shares during the period. Notis McConarty Edward's holdings in Ball were worth $1,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC increased its stake in Ball by 11.5% in the first quarter. Evermay Wealth Management LLC now owns 1,943 shares of the company's stock valued at $101,000 after purchasing an additional 200 shares in the last quarter. EP Wealth Advisors LLC increased its stake in Ball by 4.9% in the first quarter. EP Wealth Advisors LLC now owns 4,371 shares of the company's stock valued at $228,000 after purchasing an additional 205 shares in the last quarter. GAMMA Investing LLC increased its stake in Ball by 6.0% in the first quarter. GAMMA Investing LLC now owns 3,852 shares of the company's stock valued at $201,000 after purchasing an additional 219 shares in the last quarter. Strengthening Families & Communities LLC increased its stake in Ball by 72.4% in the first quarter. Strengthening Families & Communities LLC now owns 707 shares of the company's stock valued at $37,000 after purchasing an additional 297 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Ball by 26.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,454 shares of the company's stock valued at $82,000 after purchasing an additional 302 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Daniel William Fisher sold 3,400 shares of the 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 owned 10,036 shares in the company, valued at approximately $517,355.80. This represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BALL shares. Bank of America reaffirmed a "neutral" rating and issued a $66.00 target price (down previously from $67.00) on shares of Ball in a research note on Wednesday, July 9th. Truist Financial upped their target price on shares of Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company upped their price target on shares of Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Royal Bank Of Canada upped their price target on shares of Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Ball in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $63.27.

Ball Stock Performance

Shares of BALL opened at $48.72 on Thursday. Ball Corporation has a 12 month low of $43.51 and a 12 month high of $67.84. The firm has a fifty day simple moving average of $51.65 and a 200 day simple moving average of $52.85. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.10 and a beta of 1.09. 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 announced 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 net margin of 4.49% and a return on equity of 16.81%. The business had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The firm's revenue was up 12.8% on a year-over-year basis. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. Research analysts forecast that Ball Corporation will post 3.48 EPS for the current fiscal year.

Ball Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.80 annualized dividend and a yield of 1.6%. Ball's dividend payout ratio is presently 41.45%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.