Addenda Capital Inc. Reduces Position in Ball Corporation $BALL

Addenda Capital Inc. lessened its stake in shares of Ball Corporation (NYSE:BALL) by 47.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 54,718 shares of the company’s stock after selling 50,110 shares during the period. Addenda Capital Inc.’s holdings in Ball were worth $3,069,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ball by 12.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,718 shares of the company’s stock worth $2,044,000 after buying an additional 4,289 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of Ball by 4.9% in the 1st quarter. EP Wealth Advisors LLC now owns 4,371 shares of the company’s stock valued at $228,000 after acquiring an additional 205 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Ball by 5.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 122,483 shares of the company’s stock valued at $6,378,000 after buying an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Ball by 20.7% in the first quarter. Russell Investments Group Ltd. now owns 601,522 shares of the company’s stock valued at $31,313,000 after purchasing an additional 103,022 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Ball by 12.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 55,997 shares of the company’s stock valued at $2,916,000 after purchasing an additional 6,106 shares during the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BALL shares. UBS Group upped their price target on Ball from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Mizuho upped their price objective on Ball from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. 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. Royal Bank Of Canada raised their price objective on shares of Ball from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company raised their target price on shares of Ball from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Friday, July 18th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.27.

Ball Stock Up 2.1%

Shares of NYSE BALL opened at $49.50 on Friday. The stock’s fifty day simple moving average is $53.10 and its two-hundred day simple moving average is $52.96. The stock has a market capitalization of $13.47 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. Ball Corporation has a 12-month low of $43.51 and a 12-month high of $68.12. 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 posted its quarterly 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. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.10 billion. Ball had a net margin of 4.49% and a return on equity of 16.81%. Ball’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, analysts expect that Ball Corporation will post 3.48 EPS for the current fiscal year.

Ball Announces Dividend

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 of this dividend 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 is presently 41.45%.

Insider Buying and Selling

In related news, Chairman Daniel William Fisher sold 3,400 shares of Ball stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $51.55, for a total value of $175,270.00. Following the completion of the transaction, the chairman directly owned 10,036 shares in the company, valued at approximately $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 accessible through this link. 0.81% of the stock is owned by corporate insiders.

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.