QRG Capital Management Inc. Sells 73,856 Shares of Ball Corporation $BALL

Key Points

• QRG Capital Management Inc. has significantly reduced its position in Ball Corporation, selling 73,856 shares and decreasing its holdings by 52.8% in the second quarter.
• Ball Corporation recently reported $3.34 billion in revenue for the last quarter, exceeding analysts' expectations, and maintained a 12.8% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.20 per share, resulting in an annualized dividend yield of 1.6%.

QRG Capital Management Inc. decreased its holdings in Ball Corporation (NYSE:BALL - Free Report) by 52.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,913 shares of the company's stock after selling 73,856 shares during the period. QRG Capital Management Inc.'s holdings in Ball were worth $3,697,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Ball by 44.2% in the first quarter. JPMorgan Chase & Co. now owns 8,002,327 shares of the company's stock worth $416,681,000 after purchasing an additional 2,453,630 shares during the last quarter. Invesco Ltd. grew its stake in shares of Ball by 5.1% during the first quarter. Invesco Ltd. now owns 4,370,274 shares of the company's stock valued at $227,560,000 after buying an additional 210,838 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ball by 10.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,370,532 shares of the company's stock worth $175,480,000 after buying an additional 315,091 shares during the period. Northern Trust Corp lifted its stake in shares of Ball by 0.7% in the 1st quarter. Northern Trust Corp now owns 3,046,342 shares of the company's stock valued at $158,623,000 after acquiring an additional 19,921 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Ball by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,209,209 shares of the company's stock valued at $115,034,000 after acquiring an additional 61,498 shares during the period. Institutional investors own 86.51% of the company's stock.

Insiders Place Their Bets

In other Ball news, Chairman Daniel William Fisher sold 3,400 shares of Ball stock in a transaction on Thursday, August 28th. The stock was 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 in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Ball Stock Performance

Shares of BALL stock opened at $49.64 on Tuesday. The company's fifty day moving average price is $52.04 and its 200-day moving average price is $52.91. The stock has a market cap of $13.51 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The company has a current ratio of 1.00, a quick ratio of 0.67 and a debt-to-equity ratio of 1.23. Ball Corporation has a 12 month low of $43.51 and a 12 month high of $67.84.

Ball (NYSE:BALL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The company 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%. Ball's revenue was up 12.8% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. On average, equities analysts expect that Ball Corporation will post 3.48 EPS for the current fiscal year.

Ball Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.6%. Ball's dividend payout ratio is presently 41.45%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BALL. Wells Fargo & Company lifted their price target on Ball from $50.00 to $54.00 and gave the stock an "underweight" rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ball in a research note on Saturday, September 27th. UBS Group lowered their price target on shares of Ball from $61.00 to $55.00 and set a "neutral" rating for the company in a report on Monday. Truist Financial raised their price target on shares of Ball from $62.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Bank of America reaffirmed a "neutral" rating and set a $66.00 price objective (down from $67.00) on shares of Ball in a research note on Wednesday, July 9th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $63.27.

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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