TD Asset Management Inc Decreases Stock Position in Ball Corporation (NYSE:BALL)

Key Points

• TD Asset Management Inc reduced its holdings in Ball Corporation by 8.2%, selling 104,407 shares and owning 1,166,698 shares valued at approximately $60.8 million by the end of Q1.
• Ball Corporation reported an impressive quarterly EPS of $0.76, exceeding analysts' estimates, with a revenue increase of 7.8% year-over-year, totaling $3.10 billion.
• The company also announced a quarterly dividend of $0.20, leading to an annualized yield of 1.36%, with a payout ratio of 47.62%.

TD Asset Management Inc lowered its position in Ball Corporation (NYSE:BALL - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,166,698 shares of the company's stock after selling 104,407 shares during the period. TD Asset Management Inc owned 0.41% of Ball worth $60,750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC boosted its holdings in Ball by 764.9% in the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock worth $42,000 after acquiring an additional 719 shares in the last quarter. Parvin Asset Management LLC bought a new position in Ball in the fourth quarter worth approximately $70,000. Farther Finance Advisors LLC boosted its holdings in Ball by 51.3% in the first quarter. Farther Finance Advisors LLC now owns 1,474 shares of the company's stock worth $77,000 after acquiring an additional 500 shares in the last quarter. NBC Securities Inc. bought a new position in Ball in the first quarter worth approximately $83,000. Finally, MorganRosel Wealth Management LLC bought a new position in Ball in the first quarter worth approximately $91,000. Institutional investors own 86.51% of the company's stock.

Ball Stock Performance

Shares of BALL traded down $0.48 on Thursday, reaching $57.61. 885,118 shares of the company's stock traded hands, compared to its average volume of 2,602,909. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.10. The stock has a market cap of $15.98 billion, a PE ratio of 34.32, a PEG ratio of 1.64 and a beta of 1.08. The stock's 50 day simple moving average is $56.32 and its two-hundred day simple moving average is $53.13. Ball Corporation has a 52-week low of $43.51 and a 52-week high of $68.12.

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

Ball Announces Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial increased their price target on Ball from $62.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Mizuho raised their target price on Ball from $60.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Bank of America restated a "neutral" rating and issued a $66.00 target price (down previously from $67.00) on shares of Ball in a report on Wednesday, July 9th. Loop Capital dropped their target price on Ball from $83.00 to $78.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada raised their target price on Ball from $62.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ball currently has an average rating of "Moderate Buy" and a consensus target price of $64.64.

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.