6,439 Shares in Ball Corporation $BALL Acquired by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC has acquired a new stake in Ball Corporation by purchasing 6,439 shares, valued at approximately $361,000 in the 2nd quarter.
• Major institutional investors like JPMorgan Chase & Co. and Invesco Ltd. have significantly increased their holdings in Ball, indicating strong institutional interest.
• Ball's recent quarterly earnings report exceeded analysts' expectations, with earnings per share of $0.90 compared to a consensus estimate of $0.87, leading to an annual revenue increase of 12.8%.

Pallas Capital Advisors LLC purchased a new stake in Ball Corporation (NYSE:BALL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,439 shares of the company's stock, valued at approximately $361,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BALL. Evermay Wealth Management LLC grew its position in Ball by 11.5% in the first quarter. Evermay Wealth Management LLC now owns 1,943 shares of the company's stock worth $101,000 after acquiring an additional 200 shares during the period. EP Wealth Advisors LLC grew its position in Ball by 4.9% in the first quarter. EP Wealth Advisors LLC now owns 4,371 shares of the company's stock worth $228,000 after acquiring an additional 205 shares during the period. GAMMA Investing LLC boosted its position in shares of Ball by 6.0% during the first quarter. GAMMA Investing LLC now owns 3,852 shares of the company's stock worth $201,000 after buying an additional 219 shares during the period. Strengthening Families & Communities LLC boosted its position in shares of Ball by 72.4% during the first quarter. Strengthening Families & Communities LLC now owns 707 shares of the company's stock worth $37,000 after buying an additional 297 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Ball by 26.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,454 shares of the company's stock worth $82,000 after buying an additional 302 shares during the period. Institutional investors and hedge funds own 86.51% of the company's stock.

Wall Street Analysts Forecast Growth

BALL has been the subject of several research analyst reports. Royal Bank Of Canada raised their price target on Ball from $69.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Bank of America restated a "neutral" rating and issued a $66.00 price target (down from $67.00) on shares of Ball in a research note on Wednesday, July 9th. UBS Group raised their price target on Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Wells Fargo & Company raised their price target on Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a research note on Friday, July 18th. Finally, Citigroup raised their price target on Ball from $55.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $65.27.

Ball Price Performance

Shares of Ball stock traded down $0.02 during trading on Monday, reaching $48.69. The company's stock had a trading volume of 1,809,910 shares, compared to its average volume of 2,161,439. The company has a quick ratio of 0.67, a current ratio of 1.00 and a debt-to-equity ratio of 1.23. 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 $13.25 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The business has a 50 day moving average price of $54.03 and a 200-day moving average price of $53.10.

Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Ball had a return on equity of 16.81% and a net margin of 4.49%.The firm 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 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. As a group, sell-side analysts anticipate that Ball Corporation will post 3.48 EPS for the current year.

Ball Dividend Announcement

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

Insider Activity at Ball

In other news, Chairman Daniel William Fisher sold 3,400 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $51.55, for a total transaction of $175,270.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

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.