Truist Financial Corp Sells 129,313 Shares of Ball Corporation $BALL

Truist Financial Corp lessened its holdings in Ball Corporation (NYSE:BALL) by 58.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,261 shares of the company’s stock after selling 129,313 shares during the quarter. Truist Financial Corp’s holdings in Ball were worth $5,175,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BALL. JPMorgan Chase & Co. boosted its stake in shares of Ball by 44.2% in the 1st quarter. JPMorgan Chase & Co. now owns 8,002,327 shares of the company’s stock valued at $416,681,000 after purchasing an additional 2,453,630 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Ball by 359.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,184,629 shares of the company’s stock worth $60,299,000 after acquiring an additional 926,728 shares during the last quarter. Nuveen LLC bought a new position in Ball during the 1st quarter worth approximately $47,606,000. First Manhattan CO. LLC. boosted its stake in Ball by 38.2% during the 1st quarter. First Manhattan CO. LLC. now owns 1,653,305 shares of the company’s stock worth $86,088,000 after acquiring an additional 457,230 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Ball by 35.5% during the 1st quarter. Deutsche Bank AG now owns 1,733,004 shares of the company’s stock worth $90,238,000 after acquiring an additional 454,155 shares during the last quarter. Institutional investors own 86.51% of the company’s stock.

Ball Price Performance

Shares of BALL opened at $48.48 on Wednesday. The company has a market cap of $13.19 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 1.13 and a beta of 1.09. Ball Corporation has a 1-year low of $43.51 and a 1-year high of $67.84. The company’s fifty day simple moving average is $51.84 and its 200 day simple moving average is $52.87. 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 (NYSE:BALL) last issued its earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share for the quarter, topping 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 period in the previous year, the company earned $0.74 earnings per share. The firm’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. On average, research analysts forecast that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Ball’s payout ratio is 41.45%.

Insider Buying and Selling

In other Ball 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 completion of the transaction, the chairman directly owned 10,036 shares of the company’s stock, valued at $517,355.80. The trade was a 25.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on BALL shares. Mizuho reduced their price objective on shares of Ball from $68.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ball in a research note on Saturday, September 27th. Truist Financial lifted their price objective on shares of Ball from $62.00 to $69.00 and gave the company a “buy” rating in a report on Friday, July 11th. 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 report on Thursday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Ball from $50.00 to $54.00 and gave the company an “underweight” rating in a report on Friday, July 18th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.27.

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.