Fifth Third Bancorp Buys 696 Shares of Ball Corporation $BALL

Fifth Third Bancorp raised its stake in Ball Corporation (NYSE:BALL) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,163 shares of the company’s stock after acquiring an additional 696 shares during the quarter. Fifth Third Bancorp’s holdings in Ball were worth $514,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BALL. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ball by 12.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,718 shares of the company’s stock worth $2,044,000 after purchasing an additional 4,289 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Ball by 4.9% during the first quarter. EP Wealth Advisors LLC now owns 4,371 shares of the company’s stock worth $228,000 after purchasing an additional 205 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of Ball by 5.0% during the first quarter. Asset Management One Co. Ltd. now owns 122,483 shares of the company’s stock worth $6,378,000 after purchasing an additional 5,841 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Ball by 20.7% during the first quarter. Russell Investments Group Ltd. now owns 601,522 shares of the company’s stock worth $31,313,000 after purchasing an additional 103,022 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Ball by 12.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 55,997 shares of the company’s stock worth $2,916,000 after purchasing an additional 6,106 shares during the period. 86.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BALL. Wells Fargo & Company raised their target price on shares of Ball from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Friday, July 18th. Truist Financial raised their target price on shares of Ball from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Bank of America reaffirmed a “neutral” rating and set a $66.00 target price (down from $67.00) on shares of Ball in a report on Wednesday, July 9th. 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 note on Thursday, August 7th. Finally, Citigroup decreased their price objective on shares of Ball from $60.00 to $53.00 and set a “neutral” rating on the stock in a research note on Monday. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.36.

Ball Stock Performance

Shares of Ball stock opened at $49.61 on Tuesday. Ball Corporation has a fifty-two week low of $43.51 and a fifty-two week 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 firm has a market capitalization of $13.50 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.13 and a beta of 1.06. The company’s 50 day moving average price is $52.94 and its two-hundred day moving average price is $52.95.

Ball (NYSE:BALL) last issued its earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Ball had a net margin of 4.49% and a return on equity of 16.81%. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business posted $0.74 earnings per share. The company’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. On average, equities analysts forecast that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, September 2nd. Ball’s payout ratio is 41.45%.

Insider Activity at Ball

In other news, Chairman Daniel William Fisher sold 3,400 shares of Ball stock in a transaction 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 transaction, the chairman owned 10,036 shares in the company, valued at approximately $517,355.80. The trade was a 25.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

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.