Ball Corporation (NYSE:BALL) Stock Holdings Trimmed by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Ball Corporation by 16.6%, selling 21,802 shares and leaving them with 109,185 shares valued at approximately $5.69 million.
• Ball Corporation recently announced a quarterly dividend of $0.20 per share, with an annualized yield of 1.36% and a payout ratio of 47.62%.
• Analysts have mixed outlooks for Ball Corporation, with an average rating of "Moderate Buy" and a consensus price target of $64.64.

Allianz Asset Management GmbH cut its stake in shares of Ball Corporation (NYSE:BALL - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,185 shares of the company's stock after selling 21,802 shares during the period. Allianz Asset Management GmbH's holdings in Ball were worth $5,685,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC increased its position in shares of Ball by 764.9% during the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock worth $42,000 after acquiring an additional 719 shares during the period. Parvin Asset Management LLC bought a new position in Ball in the 4th quarter valued at approximately $70,000. Farther Finance Advisors LLC boosted its holdings in shares of Ball by 51.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,474 shares of the company's stock worth $77,000 after buying an additional 500 shares during the last quarter. NBC Securities Inc. purchased a new stake in Ball during the 1st quarter valued at $83,000. Finally, MorganRosel Wealth Management LLC bought a new stake in Ball in the 1st quarter worth about $91,000. 86.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BALL has been the subject of a number of recent analyst reports. Truist Financial boosted their price objective on Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Bank of America reiterated a "neutral" rating and issued a $66.00 price objective (down previously from $67.00) on shares of Ball in a report on Wednesday, July 9th. Barclays dropped their price objective on Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 14th. Mizuho raised their price target on Ball from $60.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Loop Capital dropped their price target on Ball from $83.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Ball has an average rating of "Moderate Buy" and an average target price of $64.64.

Ball Trading Down 1.2%

BALL stock traded down $0.70 during trading on Thursday, reaching $57.39. 365,494 shares of the stock traded hands, compared to its average volume of 2,599,306. The business's 50 day moving average price is $56.32 and its 200-day moving average price is $53.13. Ball Corporation has a 52-week low of $43.51 and a 52-week high of $68.12. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.04 and a quick ratio of 0.70. The firm has a market capitalization of $15.92 billion, a PE ratio of 34.14, a P/E/G ratio of 1.64 and a beta of 1.08.

Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.07. Ball had a return on equity of 15.41% and a net margin of 4.18%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Ball Corporation will post 3.48 earnings per share for the current year.

Ball Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.39%. Ball's payout ratio is currently 47.62%.

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.