Chevy Chase Trust Holdings LLC Decreases Stake in Ball Corporation $BALL

Chevy Chase Trust Holdings LLC reduced its holdings in Ball Corporation (NYSE:BALL) by 6.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,782 shares of the company’s stock after selling 10,133 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Ball worth $8,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Stratos Wealth Partners LTD. purchased a new position in shares of Ball in the second quarter worth about $243,000. Nordea Investment Management AB raised its stake in Ball by 48.3% during the second quarter. Nordea Investment Management AB now owns 72,657 shares of the company’s stock worth $4,074,000 after purchasing an additional 23,657 shares during the period. Praxis Investment Management Inc. raised its stake in Ball by 1.2% during the second 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. WCM Investment Management LLC raised its stake in Ball by 11.7% during the second quarter. WCM Investment Management LLC now owns 4,857 shares of the company’s stock worth $274,000 after purchasing an additional 508 shares during the period. Finally, Rosenberg Matthew Hamilton raised its stake in Ball by 145.0% during the second quarter. Rosenberg Matthew Hamilton now owns 517 shares of the company’s stock worth $29,000 after purchasing an additional 306 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Daniel William Fisher sold 3,400 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $51.55, for a total transaction of $175,270.00. Following the sale, the chairman directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on BALL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ball in a research note on Wednesday, October 8th. Mizuho reduced their target price on shares of Ball from $68.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Truist Financial reduced their target price on shares of Ball from $69.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Bank of America reaffirmed a “neutral” rating and set a $66.00 target price (down from $67.00) on shares of Ball in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Ball from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.36.

Ball Price Performance

Ball stock opened at $48.39 on Monday. The company’s 50 day simple moving average is $50.58 and its 200-day simple moving average is $52.68. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09. Ball Corporation has a 1 year low of $43.51 and a 1 year high of $67.84. 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 (NYSE:BALL) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business 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%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, equities research analysts expect that Ball Corporation will post 3.48 earnings per share for the current year.

Ball Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Ball’s dividend payout ratio is presently 41.45%.

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.