Ball Corporation $BALL Position Lessened by Palisade Asset Management LLC

Palisade Asset Management LLC lessened its position in Ball Corporation (NYSE:BALL) by 16.0% during the third quarter, Holdings Channel reports. The institutional investor owned 118,170 shares of the company’s stock after selling 22,456 shares during the quarter. Palisade Asset Management LLC’s holdings in Ball were worth $6,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. North Dakota State Investment Board lifted its holdings in shares of Ball by 2.2% in the third quarter. North Dakota State Investment Board now owns 8,149 shares of the company’s stock valued at $457,000 after buying an additional 178 shares during the period. Leonteq Securities AG grew its holdings in Ball by 3.6% during the second quarter. Leonteq Securities AG now owns 5,415 shares of the company’s stock worth $338,000 after acquiring an additional 188 shares during the period. Andrew Hill Investment Advisors Inc. grew its holdings in Ball by 2.3% during the third quarter. Andrew Hill Investment Advisors Inc. now owns 8,719 shares of the company’s stock worth $489,000 after acquiring an additional 195 shares during the period. Parkside Financial Bank & Trust grew its holdings in Ball by 29.8% during the second quarter. Parkside Financial Bank & Trust now owns 863 shares of the company’s stock worth $54,000 after acquiring an additional 198 shares during the period. Finally, Parvin Asset Management LLC raised its position in Ball by 19.5% in the first quarter. Parvin Asset Management LLC now owns 1,315 shares of the company’s stock worth $78,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.

Insider Buying and Selling at Ball

In related news, SVP Mandy Glew sold 5,626 shares of Ball stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $63.80, for a total value of $358,938.80. Following the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $459,934.20. This trade represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is owned by company insiders.

Key Headlines Impacting Ball

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Citigroup raised its price target to $77 from $75 and maintained a Buy rating; RBC also lifted its target to $77, from $73, and kept its Outperform rating. Both targets imply about 17% upside from the cited $65.88 share price. Citigroup price-target report RBC analyst recommendations
• Positive Sentiment: Truist reiterated its Buy rating, signaling continued confidence in Ball’s prospects. Truist rating report
• Neutral Sentiment: UBS raised its target to $68 from $63 but kept a Neutral rating, suggesting a more modest view of potential gains. UBS price-target report
• Neutral Sentiment: Mizuho set a new $75 price target. Ball’s reported consensus target is $71.46, reflecting generally positive expectations but some variation among analysts. Mizuho price-target report Consensus price-target report
• Negative Sentiment: JPMorgan cut Ball’s rating to Neutral, a cautious counterpoint to the recent target increases. JPMorgan rating report

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Ball from an “overweight” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Wednesday. Weiss Ratings lowered shares of Ball from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday. Royal Bank Of Canada lifted their price objective on shares of Ball from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America boosted their target price on shares of Ball from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Mizuho boosted their target price on shares of Ball from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Ball has an average rating of “Moderate Buy” and an average target price of $72.15.

Ball Stock Performance

BALL opened at $65.88 on Friday. The firm has a market cap of $17.15 billion, a PE ratio of 33.11, a P/E/G ratio of 1.44 and a beta of 0.94. The company has a quick ratio of 0.66, a current ratio of 1.04 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $61.38 and a 200-day simple moving average of $61.11. Ball Corporation has a fifty-two week low of $46.06 and a fifty-two week high of $69.57.

Ball (NYSE:BALL) last issued its earnings results on Tuesday, November 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The business had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Ball had a return on equity of 18.81% and a net margin of 3.52%. The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 EPS. As a group, equities analysts predict that Ball Corporation will post 4.00 EPS for the current fiscal year.

Ball Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.20 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. Ball’s dividend payout ratio (DPR) is 40.20%.

Ball Company Profile

Ball Corporation is a global supplier of aluminum packaging, best known for making beverage cans and ends for beverage companies. Its products are used for a range of drinks, including beer, soft drinks, energy drinks and other beverages. The company also offers aluminum cups and other specialty packaging products.

Ball serves customers across North America, South America, Europe, the Middle East, Africa and Asia. Its packaging operations support beverage brands and producers with manufacturing capabilities in multiple regions.

Founded in 1880 as a glass-jar business, Ball grew into a major packaging company and later operated an aerospace business.