Ball Corporation $BALL Stake Lessened by Amalgamated Bank

Amalgamated Bank lessened its stake in Ball Corporation (NYSE:BALL) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,793 shares of the company’s stock after selling 4,451 shares during the period. Amalgamated Bank’s holdings in Ball were worth $3,017,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Assetmark Inc. increased its stake in shares of Ball by 5.4% in the second quarter. Assetmark Inc. now owns 81,334 shares of the company’s stock worth $4,562,000 after buying an additional 4,202 shares during the last quarter. Keybank National Association OH increased its stake in shares of Ball by 0.6% in the second quarter. Keybank National Association OH now owns 73,382 shares of the company’s stock worth $4,116,000 after buying an additional 459 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Ball by 149.2% in the second quarter. Teacher Retirement System of Texas now owns 197,358 shares of the company’s stock worth $11,070,000 after buying an additional 118,168 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Ball in the second quarter worth $8,597,000. Finally, Bessemer Group Inc. increased its stake in shares of Ball by 133.1% in the second quarter. Bessemer Group Inc. now owns 7,134 shares of the company’s stock worth $400,000 after buying an additional 4,074 shares during the last quarter. Institutional investors own 86.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BALL. Bank of America reiterated 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. Citigroup lowered their target price on shares of Ball from $60.00 to $53.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Mizuho lowered their target price on shares of Ball from $68.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Truist Financial lowered their target price on shares of Ball from $69.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, Wells Fargo & Company lowered their target price on shares of Ball from $54.00 to $48.00 and set an “underweight” rating for the company in a research note on Wednesday, October 15th. 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.36.

Insider Activity

In other news, Chairman Daniel William Fisher sold 3,400 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.81% of the company’s stock.

Ball Stock Performance

Shares of BALL opened at $47.05 on Tuesday. Ball Corporation has a 1 year low of $43.51 and a 1 year high of $63.35. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.09 and a beta of 1.09. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.67 and a current ratio of 1.00. The firm has a fifty day moving average of $49.52 and a 200-day moving average of $52.85.

Ball (NYSE:BALL) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Ball had a net margin of 4.49% and a return on equity of 16.81%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts anticipate that Ball Corporation will post 3.48 earnings per share for the current year.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. Ball’s payout ratio is 41.45%.

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.