State Street Corp Boosts Stock Holdings in Ball Corporation $BALL

Key Points

• State Street increased its Ball position by 8.3% in the second quarter, adding 1.02 million shares and bringing its holdings to 13.4 million shares, or about 5.07% of the company. Institutional investors and hedge funds collectively own 86.51% of Ball.
• Ball’s latest quarterly results exceeded expectations, with EPS of $1.03 versus the $0.99 consensus and revenue of $4 billion, up 19.7% year over year. The company also maintains a $0.20 quarterly dividend, equivalent to a 1.4% yield.
• Shares opened at $58.79, below the analyst consensus target of $71.69. Analysts collectively rate Ball a “Moderate Buy,” though ratings range from “overweight” and “buy” to Citigroup’s “reduce” recommendation.

State Street Corp increased its position in Ball Corporation (NYSE:BALL - Free Report) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,416,598 shares of the company's stock after buying an additional 1,024,861 shares during the quarter. State Street Corp owned about 5.07% of Ball worth $837,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BALL. IPG Investment Advisors LLC acquired a new stake in Ball in the second quarter valued at approximately $1,677,000. National Pension Service lifted its position in shares of Ball by 12.4% during the second quarter. National Pension Service now owns 152,525 shares of the company's stock worth $9,518,000 after purchasing an additional 16,844 shares in the last quarter. Engineers Gate Manager LP boosted its stake in shares of Ball by 90.7% in the second quarter. Engineers Gate Manager LP now owns 81,799 shares of the company's stock valued at $5,104,000 after purchasing an additional 38,896 shares during the period. Cidel Asset Management Inc. boosted its stake in shares of Ball by 7.2% in the second quarter. Cidel Asset Management Inc. now owns 3,690 shares of the company's stock valued at $230,000 after purchasing an additional 248 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in Ball by 71.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 33,690 shares of the company's stock valued at $2,102,000 after purchasing an additional 14,051 shares in the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

Ball Stock Down 2.0%

Shares of Ball stock opened at $58.79 on Thursday. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.15 and a beta of 0.95. Ball Corporation has a twelve month low of $44.83 and a twelve month high of $68.29. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 1.13. The business's 50 day simple moving average is $62.59 and its 200-day simple moving average is $60.51.

Ball (NYSE:BALL - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. The company had revenue of $4 billion for the quarter, compared to analysts' expectations of $3.69 billion. Ball had a return on equity of 18.76% and a net margin of 6.61%.The firm's quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. Ball has set its FY 2026 guidance at 3.930- EPS. Equities research analysts forecast that Ball Corporation will post 4.01 earnings per share for the current year.

Ball Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. Ball's payout ratio is currently 22.66%.

Analyst Ratings Changes

BALL has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on shares of Ball from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Truist Financial set a $78.00 price target on Ball in a research note on Wednesday, August 5th. Bank of America boosted their price objective on Ball from $70.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised Ball from a "neutral" rating to an "overweight" rating and set a $65.00 target price on the stock in a report on Friday, September 18th. Finally, Citigroup lowered Ball from a "buy" rating to a "reduce" rating in a research report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $71.69.

Insider Activity

In related news, SVP Mandy Glew sold 5,626 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $63.80, for a total value of $358,938.80. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at $459,934.20. This represents a 43.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.58% of the company's stock.

About Ball

Ball Corporation NYSE: BALL is a global manufacturer of sustainable aluminum packaging products. The company primarily serves the beverage, personal care and household-product industries, producing aluminum beverage cans, bottles, aerosol containers and related packaging solutions. Its products are used by brand owners and manufacturers across a range of consumer markets.

Founded in 1880 as a manufacturer of glass containers, Ball gradually transitioned toward metal packaging and became best known for its aluminum beverage-can business.

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