Envestnet Asset Management Inc. Sells 52,272 Shares of Ball Corporation $BALL

Envestnet Asset Management Inc. trimmed its holdings in shares of Ball Corporation (NYSE:BALL) by 15.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 290,400 shares of the company’s stock after selling 52,272 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ball were worth $16,289,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in 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 period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Ball by 548.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,816,827 shares of the company’s stock worth $101,906,000 after purchasing an additional 1,536,751 shares during the period. Nuveen LLC acquired a new stake in shares of Ball in the first quarter valued at approximately $47,606,000. First Manhattan CO. LLC. boosted its stake in shares of Ball by 38.2% in the first quarter. First Manhattan CO. LLC. now owns 1,653,305 shares of the company’s stock valued at $86,088,000 after buying an additional 457,230 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Ball by 35.5% in the first quarter. Deutsche Bank AG now owns 1,733,004 shares of the company’s stock valued at $90,238,000 after buying an additional 454,155 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.

Wall Street Analysts Forecast Growth

BALL has been the topic of a number of recent research reports. 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 note on Wednesday, October 15th. Mizuho reduced their target price on Ball from $68.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Royal Bank Of Canada boosted their price target on Ball from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Ball from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Truist Financial decreased their target price on shares of Ball from $69.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.33.

Ball Price Performance

Ball stock opened at $48.36 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. Ball Corporation has a 52 week low of $43.51 and a 52 week high of $63.35. The stock has a market capitalization of $13.16 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 1.09 and a beta of 1.12. The stock has a fifty day moving average of $49.28 and a 200-day moving average of $52.79.

Ball (NYSE:BALL) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.02 earnings per share for the quarter, meeting the consensus estimate of $1.02. The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.32 billion. Ball had a return on equity of 16.81% and a net margin of 4.49%.Ball’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. On average, sell-side 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 will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be 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 is Monday, December 1st. Ball’s dividend payout ratio is currently 41.45%.

Insider Buying and Selling

In related news, Chairman Daniel William Fisher sold 3,400 shares of the 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 transaction, the chairman owned 10,036 shares of the company’s stock, valued at $517,355.80. This represents a 25.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by insiders.

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.