Ball Corporation $BALL Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in shares of Ball Corporation (NYSE:BALL) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,420 shares of the company’s stock after buying an additional 10,758 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ball were worth $9,166,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BALL. Rosenberg Matthew Hamilton boosted its position in Ball by 145.0% during the second quarter. Rosenberg Matthew Hamilton now owns 517 shares of the company’s stock worth $29,000 after purchasing an additional 306 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Ball in the first quarter valued at $32,000. Strengthening Families & Communities LLC raised its stake in shares of Ball by 72.4% during the 1st 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 last quarter. SVB Wealth LLC purchased a new stake in shares of Ball in the 1st quarter worth about $39,000. Finally, Federated Hermes Inc. boosted its position in shares of Ball by 40.4% in the 1st quarter. Federated Hermes Inc. now owns 1,311 shares of the company’s stock worth $68,000 after buying an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ball in a research report on Wednesday, October 8th. Citigroup dropped their price objective on shares of Ball from $60.00 to $53.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Raymond James Financial began coverage on Ball in a research report on Wednesday, October 15th. They set a “market perform” rating for the company. UBS Group lowered their target price on Ball from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Finally, Royal Bank Of Canada boosted their price target on Ball from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ball has a consensus rating of “Hold” and a consensus price target of $61.33.

Insiders Place Their Bets

In other Ball news, Chairman Daniel William Fisher sold 3,400 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $51.55, for a total value of $175,270.00. Following the sale, the chairman directly owned 10,036 shares of the company’s stock, valued at approximately $517,355.80. This trade represents a 25.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.

Ball Stock Performance

Shares of BALL opened at $47.60 on Friday. Ball Corporation has a 1 year low of $43.51 and a 1 year high of $63.35. The company’s 50 day simple moving average is $48.81 and its 200 day simple moving average is $52.71. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.09 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.67 and a current ratio of 1.00.

Ball (NYSE:BALL) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.02 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the firm posted $0.91 EPS. Ball’s revenue was up 9.6% on a year-over-year basis. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. On average, sell-side analysts predict that Ball Corporation will post 3.48 EPS for the current year.

Ball Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.7%. Ball’s dividend payout ratio is 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.