Amundi Cuts Stock Holdings in Ball Corporation $BALL

Amundi lowered its position in shares of Ball Corporation (NYSE:BALL) by 17.5% in the second quarter, Holdings Channel.com reports. The fund owned 876,511 shares of the company’s stock after selling 185,284 shares during the quarter. Amundi’s holdings in Ball were worth $51,172,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rosenberg Matthew Hamilton increased its position in shares of 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 in the last quarter. SVB Wealth LLC acquired a new stake in Ball during the 1st quarter worth $39,000. IFP Advisors Inc boosted its stake in Ball by 103.2% during the 2nd quarter. IFP Advisors Inc now owns 1,142 shares of the company’s stock worth $68,000 after purchasing an additional 580 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Ball by 336.9% during the second quarter. UMB Bank n.a. now owns 1,337 shares of the company’s stock worth $75,000 after buying an additional 1,031 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Ball by 26.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,454 shares of the company’s stock valued at $82,000 after buying an additional 302 shares during the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on BALL. Raymond James Financial assumed coverage on shares of Ball in a research report on Wednesday, October 15th. They set a “market perform” rating on the stock. UBS Group lowered their target price on Ball from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Truist Financial dropped their price target on Ball from $69.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Bank of America upgraded Ball from a “neutral” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Monday, November 17th. Finally, Citigroup cut their target price on Ball from $60.00 to $53.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.92.

Ball Trading Down 1.8%

NYSE BALL opened at $46.87 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.72 and a current ratio of 1.11. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.02 and a beta of 1.13. The firm has a 50 day simple moving average of $48.44 and a 200-day simple moving average of $52.23. Ball Corporation has a one year low of $43.51 and a one year high of $60.28.

Ball (NYSE:BALL) last announced its earnings results on Tuesday, November 4th. The company reported $1.02 earnings per share for the quarter, hitting the consensus estimate of $1.02. The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.32 billion. Ball had a net margin of 5.36% and a return on equity of 17.89%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. Equities research analysts anticipate that Ball Corporation will post 3.48 EPS for the current fiscal year.

Ball Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, December 1st. Ball’s dividend payout ratio (DPR) is presently 32.52%.

About Ball

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.