Allspring Global Investments Holdings LLC Reduces Stock Holdings in Ball Corporation $BALL

Allspring Global Investments Holdings LLC decreased its position in Ball Corporation (NYSE:BALL) by 19.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,600 shares of the company’s stock after selling 3,211 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ball were worth $787,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. CWM LLC lifted its position in shares of Ball by 115.4% during the second quarter. CWM LLC now owns 59,075 shares of the company’s stock worth $3,314,000 after acquiring an additional 31,648 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of Ball by 7.3% during the second quarter. Apollon Wealth Management LLC now owns 4,979 shares of the company’s stock worth $279,000 after acquiring an additional 339 shares in the last quarter. Hemington Wealth Management raised its position in shares of Ball by 786.1% in the second quarter. Hemington Wealth Management now owns 1,790 shares of the company’s stock worth $100,000 after buying an additional 1,588 shares in the last quarter. Lester Murray Antman dba SimplyRich purchased a new stake in shares of Ball in the second quarter worth $266,000. Finally, Aberdeen Group plc raised its position in shares of Ball by 5.4% in the second quarter. Aberdeen Group plc now owns 410,701 shares of the company’s stock worth $22,983,000 after buying an additional 21,207 shares in the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Ball Stock Down 0.0%

BALL opened at $49.73 on Friday. The stock has a market cap of $13.54 billion, a PE ratio of 25.77, a P/E/G ratio of 1.14 and a beta of 1.09. The company has a quick ratio of 0.67, a current ratio of 1.00 and a debt-to-equity ratio of 1.23. Ball Corporation has a 52 week low of $43.51 and a 52 week high of $65.44. The business’s fifty day simple moving average is $50.21 and its 200 day simple moving average is $52.65.

Ball (NYSE:BALL) last released 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 return on equity of 16.81% and a net margin of 4.49%.The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, research analysts expect that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid 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 of this dividend was Tuesday, September 2nd. Ball’s dividend payout ratio (DPR) is 41.45%.

Wall Street Analyst Weigh In

BALL has been the topic of a number of recent analyst reports. Bank of America reiterated a “neutral” rating and issued a $66.00 price objective (down previously from $67.00) on shares of Ball in a research report on Wednesday, July 9th. Raymond James Financial initiated coverage on Ball in a research report on Wednesday, October 15th. They issued a “market perform” rating on the stock. Royal Bank Of Canada increased their price objective on Ball from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Truist Financial lowered their price objective on Ball from $69.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Wells Fargo & Company lowered their price objective on Ball from $54.00 to $48.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 15th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.36.

Insider Activity

In other 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 transaction of $175,270.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.81% 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.