State of Alaska Department of Revenue Trims Stake in Ball Corporation $BALL

State of Alaska Department of Revenue reduced its holdings in shares of Ball Corporation (NYSE:BALL) by 11.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,091 shares of the company’s stock after selling 3,825 shares during the period. State of Alaska Department of Revenue’s holdings in Ball were worth $1,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC bought a new position in shares of Ball in the first quarter worth approximately $32,000. Strengthening Families & Communities LLC boosted its position in shares of Ball by 72.4% in the first quarter. Strengthening Families & Communities LLC now owns 707 shares of the company’s stock worth $37,000 after purchasing an additional 297 shares during the period. SVB Wealth LLC bought a new position in shares of Ball in the first quarter worth approximately $39,000. Federated Hermes Inc. boosted its position in shares of Ball by 40.4% in the first quarter. Federated Hermes Inc. now owns 1,311 shares of the company’s stock worth $68,000 after purchasing an additional 377 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Ball by 336.9% in the second quarter. UMB Bank n.a. now owns 1,337 shares of the company’s stock worth $75,000 after purchasing an additional 1,031 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Ball Trading Down 0.4%

NYSE BALL opened at $50.29 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.67 and a current ratio of 1.00. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.09. The company’s 50-day simple moving average is $52.22 and its two-hundred day simple moving average is $52.90. Ball Corporation has a one year low of $43.51 and a one year high of $67.84.

Ball (NYSE:BALL) last posted its earnings results on Tuesday, August 5th. The company reported $0.90 EPS 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 business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. Equities analysts forecast that Ball Corporation will post 3.48 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.6%. Ball’s dividend payout ratio (DPR) is 41.45%.

Insider Buying and Selling

In related news, Chairman Daniel William Fisher sold 3,400 shares of Ball stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $51.55, for a total value of $175,270.00. Following the completion of the sale, the chairman directly owned 10,036 shares in the company, valued at $517,355.80. This trade represents a 25.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America restated a “neutral” rating and set a $66.00 target price (down previously from $67.00) on shares of Ball in a research report on Wednesday, July 9th. Wells Fargo & Company upped their target price on shares of Ball from $50.00 to $54.00 and gave the stock an “underweight” rating in a research report on Friday, July 18th. Royal Bank Of Canada upped their target price on shares of Ball from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. UBS Group upped their target price on shares of Ball from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 9th. Finally, Truist Financial upped their target price on shares of Ball from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.73.

Ball 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.