Rafferty Asset Management LLC Has $1.07 Million Holdings in Ball Corporation $BALL

Key Points

• Rafferty Asset Management LLC reduced its ownership in Ball Corporation by 20.6%, holding 20,577 shares valued at approximately $1.07 million as of its latest SEC filing.
• Ball Corporation reported earnings of $0.90 per share, exceeding analysts' expectations of $0.87, alongside a revenue of $3.34 billion for the recent quarter.
• The company announced a quarterly dividend of $0.20 per share, with an annualized yield of 1.5% scheduled for payment on September 16th.

Rafferty Asset Management LLC lowered its stake in Ball Corporation (NYSE:BALL - Free Report) by 20.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,577 shares of the company's stock after selling 5,351 shares during the quarter. Rafferty Asset Management LLC's holdings in Ball were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FORA Capital LLC purchased a new position in Ball during the 1st quarter valued at about $866,000. Campbell & CO Investment Adviser LLC purchased a new position in Ball during the 1st quarter valued at about $1,707,000. SVB Wealth LLC purchased a new position in Ball during the 1st quarter valued at about $39,000. Northwestern Mutual Wealth Management Co. grew its stake in Ball by 21.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 124,267 shares of the company's stock valued at $6,471,000 after acquiring an additional 22,278 shares in the last quarter. Finally, Resolute Capital Asset Partners LLC purchased a new position in Ball during the 1st quarter valued at about $1,041,000. Hedge funds and other institutional investors own 86.51% of the company's stock.

Insiders Place Their Bets

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 stock was sold at an average price of $51.55, for a total value of $175,270.00. Following the completion of the sale, the chairman directly owned 10,036 shares in the company, valued at approximately $517,355.80. The trade was a 25.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BALL. Royal Bank Of Canada lifted their target price on Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Mizuho lifted 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 lowered their target price on Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 14th. Bank of America reiterated a "neutral" rating and set a $66.00 price target (down from $67.00) on shares of Ball in a report on Wednesday, July 9th. Finally, UBS Group lifted their price target on Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Six investment 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $65.27.

Ball Stock Performance

BALL traded up $0.47 on Friday, hitting $50.89. The company had a trading volume of 1,549,281 shares, compared to its average volume of 2,161,734. The company's fifty day moving average price is $55.65 and its 200 day moving average price is $53.20. Ball Corporation has a 1-year low of $43.51 and a 1-year high of $68.12. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.00 and a quick ratio of 0.67. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.

Ball (NYSE:BALL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share 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 firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company earned $0.74 EPS. The company's revenue for the quarter was up 12.8% on a year-over-year basis. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. Equities analysts predict that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Announces Dividend

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

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.