Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in Ball Corporation $BALL

Sumitomo Mitsui Trust Group Inc. lessened its position in Ball Corporation (NYSE:BALL) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 645,187 shares of the company’s stock after selling 37,164 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ball were worth $36,189,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Praxis Investment Management Inc. increased its holdings in Ball by 1.2% during the 2nd quarter. Praxis Investment Management Inc. now owns 15,340 shares of the company’s stock worth $860,000 after purchasing an additional 180 shares during the period. Evermay Wealth Management LLC increased its holdings in Ball by 11.5% during the 1st quarter. Evermay Wealth Management LLC now owns 1,943 shares of the company’s stock worth $101,000 after purchasing an additional 200 shares during the period. EP Wealth Advisors LLC increased its holdings in Ball by 4.9% during the 1st 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. Ethic Inc. increased its holdings in Ball by 0.6% during the 2nd quarter. Ethic Inc. now owns 34,415 shares of the company’s stock worth $1,941,000 after purchasing an additional 205 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Ball by 6.0% during the 1st quarter. GAMMA Investing LLC now owns 3,852 shares of the company’s stock worth $201,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Insider Activity

In other news, Chairman Daniel William Fisher sold 3,400 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $51.55, for a total transaction of $175,270.00. Following the sale, the chairman owned 10,036 shares in the company, valued at $517,355.80. This trade represents a 25.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on BALL. Raymond James Financial began coverage on Ball in a 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 company an “outperform” rating in a report on Thursday, August 7th. Truist Financial dropped their price objective on Ball from $69.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Wells Fargo & Company decreased their target price on Ball from $54.00 to $48.00 and set an “underweight” rating for the company in a research report on Wednesday, October 15th. Finally, Bank of America reissued a “neutral” rating and issued a $66.00 target price (down from $67.00) on shares of Ball in a research report on Wednesday, July 9th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $62.36.

Ball Stock Performance

NYSE BALL opened at $49.13 on Wednesday. Ball Corporation has a 1-year low of $43.51 and a 1-year high of $64.80. The company has a market capitalization of $13.37 billion, a P/E ratio of 25.45, a PEG ratio of 1.14 and a beta of 1.09. The business has a 50 day moving average price of $49.99 and a 200 day moving average price of $52.83. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.00 and a quick ratio of 0.67.

Ball (NYSE:BALL) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.10 billion. Ball had a return on equity of 16.81% and a net margin of 4.49%.Ball’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. Sell-side analysts expect that Ball Corporation will post 3.48 EPS for the current fiscal year.

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.