Bank of New York Mellon Corp Grows Holdings in Ball Corporation $BALL

Bank of New York Mellon Corp grew its stake in shares of Ball Corporation (NYSE:BALL) by 7.8% in the second quarter, Holdings Channel reports. The firm owned 2,111,813 shares of the company’s stock after acquiring an additional 152,441 shares during the period. Bank of New York Mellon Corp’s holdings in Ball were worth $118,452,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BALL. Rosenberg Matthew Hamilton lifted its holdings in Ball by 145.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 517 shares of the company’s stock valued at $29,000 after buying an additional 306 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in Ball in the 1st quarter worth about $32,000. Strengthening Families & Communities LLC increased 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 acquiring an additional 297 shares during the period. SVB Wealth LLC bought a new stake in shares of Ball during the first quarter valued at approximately $39,000. Finally, Federated Hermes Inc. raised its stake 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 acquiring an additional 377 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BALL shares. JPMorgan Chase & Co. reduced their price objective on Ball from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Ball in a research report on Wednesday, October 8th. Raymond James Financial initiated coverage on Ball in a report on Wednesday, October 15th. They issued a “market perform” rating for the company. Mizuho lowered their price objective on shares of Ball from $68.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Finally, Truist Financial cut their target price on shares of Ball from $69.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.33.

Insider Activity

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 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 $517,355.80. The trade was a 25.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by insiders.

Ball Trading Up 1.0%

Shares of NYSE:BALL opened at $48.88 on Friday. The company has a market capitalization of $13.10 billion, a PE ratio of 25.33, a P/E/G ratio of 1.09 and a beta of 1.12. 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 Corporation has a 12-month low of $43.51 and a 12-month high of $63.35. The business’s fifty day simple moving average is $49.20 and its 200-day simple moving average is $52.80.

Ball (NYSE:BALL) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.02. Ball had a return on equity of 16.81% and a net margin of 4.49%.The company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, equities research analysts predict 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 Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, December 1st. Ball’s dividend payout ratio (DPR) is currently 32.52%.

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.