Raymond James Financial Inc. Reduces Position in Ball Corporation $BALL

Key Points

• Raymond James Financial Inc. has reduced its holdings in Ball Corporation by 10.5%, now owning approximately 1.54 million shares, valued at about $80.15 million.
• Recent earnings showed Ball Corporation reported $0.90 earnings per share, exceeding expectations, with a revenue of $3.34 billion, up 12.8% year-over-year.
• Ball Corporation has declared a quarterly dividend of $0.20 per share, translating to an annualized yield of 1.5% and is set to pay on September 16th.

Raymond James Financial Inc. lowered its position in shares of Ball Corporation (NYSE:BALL - Free Report) by 10.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,539,235 shares of the company's stock after selling 181,453 shares during the quarter. Raymond James Financial Inc. owned 0.55% of Ball worth $80,148,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BALL. Cary Street Partners Investment Advisory LLC purchased a new position in Ball during the first quarter valued at approximately $32,000. Strengthening Families & Communities LLC lifted its holdings in Ball by 72.4% during 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. Whipplewood Advisors LLC lifted its holdings in Ball by 764.9% during the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock valued at $42,000 after purchasing an additional 719 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Ball by 40.4% during the first quarter. Federated Hermes Inc. now owns 1,311 shares of the company's stock valued at $68,000 after buying an additional 377 shares during the last quarter. Finally, Parvin Asset Management LLC bought a new stake in shares of Ball during the fourth quarter valued at approximately $70,000. Hedge funds and other institutional investors own 86.51% of the company's stock.

Ball Price Performance

BALL traded up $0.9930 during trading hours on Friday, hitting $53.7030. The company's stock had a trading volume of 2,529,319 shares, compared to its average volume of 2,662,197. The business's 50-day moving average price is $56.56 and its 200-day moving average price is $53.08. Ball Corporation has a 12 month low of $43.51 and a 12 month high of $68.12. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 1.22 and a beta of 1.08. 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 quarterly 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 net margin of 4.49% and a return on equity of 16.81%. The company had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. Ball's quarterly revenue was up 12.8% on a year-over-year basis. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. Sell-side analysts expect that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.5%. Ball's payout ratio is currently 41.45%.

Analyst Ratings Changes

Several research firms have recently issued reports on BALL. Loop Capital reduced their price objective on shares of Ball from $83.00 to $78.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. UBS Group lifted their price objective on shares of Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Mizuho lifted their price objective on shares of Ball from $60.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada lifted their price objective on shares of Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Truist Financial lifted their price objective on shares of Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $65.27.

About Ball

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.