Allianz Asset Management GmbH Sells 26,324 Shares of Ball Corporation $BALL

Allianz Asset Management GmbH cut its stake in shares of Ball Corporation (NYSE:BALL) by 24.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,861 shares of the company’s stock after selling 26,324 shares during the quarter. Allianz Asset Management GmbH’s holdings in Ball were worth $4,648,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rosenberg Matthew Hamilton grew its stake in shares of Ball by 145.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 517 shares of the company’s stock valued at $29,000 after acquiring an additional 306 shares during the period. Cary Street Partners Investment Advisory LLC bought a new position in shares of Ball during the 1st quarter valued at approximately $32,000. Strengthening Families & Communities LLC grew its stake in shares of Ball by 72.4% during the 1st quarter. Strengthening Families & Communities LLC now owns 707 shares of the company’s stock valued at $37,000 after acquiring an additional 297 shares during the period. SVB Wealth LLC bought a new position in shares of Ball during the 1st quarter valued at approximately $39,000. Finally, IFP Advisors Inc grew its stake in shares of Ball by 103.2% during the 2nd quarter. IFP Advisors Inc now owns 1,142 shares of the company’s stock valued at $68,000 after acquiring an additional 580 shares during the period. 86.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Ball Stock Performance

NYSE:BALL opened at $49.73 on Friday. 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 Corporation has a 1 year low of $43.51 and a 1 year high of $65.44. The stock’s 50 day simple moving average is $50.21 and its two-hundred day simple moving average is $52.65. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.14 and a beta of 1.09.

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

Ball Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders 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 payout ratio is presently 41.45%.

Insider Transactions at Ball

In other news, Chairman Daniel William Fisher sold 3,400 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman owned 10,036 shares of the company’s stock, valued at approximately $517,355.80. The trade was a 25.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.81% 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.