Ball Corporation (NYSE:BALL) Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Ball Corporation by 6.4%, owning 103,738 shares valued at $5,390,000 by the end of the first quarter.
• The company recently announced a $0.20 quarterly dividend, with an annual yield of 1.5%, payable on September 16th to shareholders of record on September 2nd.
• Ball Corporation reported earnings per share of $0.90 for the last quarter, exceeding analysts' expectations and showing a 12.8% year-over-year revenue growth.

Resona Asset Management Co. Ltd. increased its position in shares of Ball Corporation (NYSE:BALL - Free Report) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,738 shares of the company's stock after purchasing an additional 6,229 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Ball were worth $5,390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ball by 12.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,718 shares of the company's stock worth $2,044,000 after purchasing an additional 4,289 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Ball by 5.0% during the first quarter. Asset Management One Co. Ltd. now owns 122,483 shares of the company's stock worth $6,378,000 after purchasing an additional 5,841 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Ball by 12.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 55,997 shares of the company's stock valued at $2,916,000 after acquiring an additional 6,106 shares during the last quarter. PFG Investments LLC purchased a new stake in Ball in the first quarter valued at $307,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Ball by 19.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,481 shares of the company's stock valued at $1,171,000 after acquiring an additional 3,676 shares during the last quarter. Institutional investors and hedge funds own 86.51% of the company's stock.

Ball Trading Up 0.4%

NYSE BALL opened at $53.83 on Friday. The stock has a market capitalization of $14.65 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.22 and a beta of 1.08. Ball Corporation has a 52-week low of $43.51 and a 52-week high of $68.12. The firm has a 50-day moving average price of $56.72 and a 200 day moving average price of $53.13. The company has a quick ratio of 0.67, a current ratio of 1.00 and a debt-to-equity ratio of 1.23.

Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.10 billion. Ball had a net margin of 4.49% and a return on equity of 16.81%. The firm's revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. Equities research analysts expect that Ball Corporation will post 3.48 EPS for the current year.

Ball Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, September 2nd. Ball's dividend payout ratio is presently 41.45%.

Wall Street Analysts Forecast Growth

BALL has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a research report on Friday, July 18th. Citigroup boosted their price target on shares of Ball from $55.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Truist Financial boosted their price target on shares of Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Loop Capital reduced their price target on shares of Ball from $83.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Barclays reduced their price target on shares of Ball from $61.00 to $57.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $65.27.

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.

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