Victory Capital Management Inc. Sells 5,011 Shares of Ball Corporation (NYSE:BALL)

Key Points

• Victory Capital Management Inc. reduced its holdings in Ball Corporation by 5.8%, now owning 81,877 shares valued at approximately $4.26 million.
• Ball recently reported $3.10 billion in quarterly revenue, exceeding analyst expectations, and posted an EPS of $0.76, higher than the consensus estimate of $0.69.
• The company's quarterly dividend of $0.20 was paid on June 16th, reflecting an annualized yield of 1.36% with a payout ratio of 47.62%.

Victory Capital Management Inc. lessened its position in Ball Corporation (NYSE:BALL - Free Report) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,877 shares of the company's stock after selling 5,011 shares during the period. Victory Capital Management Inc.'s holdings in Ball were worth $4,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BALL. Norges Bank acquired a new stake in shares of Ball in the fourth quarter valued at approximately $190,105,000. London Co. of Virginia boosted its position in Ball by 61.1% during the fourth quarter. London Co. of Virginia now owns 3,054,393 shares of the company's stock worth $168,389,000 after purchasing an additional 1,158,668 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Ball by 359.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,184,629 shares of the company's stock valued at $60,299,000 after purchasing an additional 926,728 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Ball by 25.3% during the 4th quarter. Invesco Ltd. now owns 4,159,436 shares of the company's stock worth $229,310,000 after buying an additional 840,357 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Ball by 11.6% during the 4th quarter. Franklin Resources Inc. now owns 7,758,604 shares of the company's stock worth $427,732,000 after buying an additional 803,728 shares during the period. 86.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BALL. Barclays cut their price objective 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. Royal Bank Of Canada boosted their price target on Ball from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Citigroup raised their price target on shares of Ball from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Truist Financial boosted their price target on Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Loop Capital lowered their price objective 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $64.64.

Ball Price Performance

Shares of Ball stock traded down $0.60 during midday trading on Wednesday, hitting $58.18. 2,320,475 shares of the company traded hands, compared to its average volume of 1,634,253. Ball Corporation has a 12 month low of $43.51 and a 12 month high of $68.12. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.04. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 1.64 and a beta of 1.08. The firm's fifty day moving average price is $56.32 and its 200-day moving average price is $53.13.

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

Ball Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. Ball's dividend 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.