Royal Bank of Canada Decreases Stock Position in Ball Corporation $BALL

Key Points

• Royal Bank of Canada reduced its holdings in Ball Corporation by 31.8%, decreasing its share count to 281,719 after selling 131,073 shares.
• Ball Corporation's stock has reached a 12-month high of $68.12 and reported a quarterly revenue of $3.34 billion, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.20 per share, with a dividend yield of 1.6%, set to be paid on September 16th.

Royal Bank of Canada decreased its stake in Ball Corporation (NYSE:BALL - Free Report) by 31.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 281,719 shares of the company's stock after selling 131,073 shares during the period. Royal Bank of Canada owned approximately 0.10% of Ball worth $14,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BALL. Cary Street Partners Investment Advisory LLC purchased a new position in Ball in the first quarter valued at about $32,000. Strengthening Families & Communities LLC increased its stake in Ball by 72.4% in the 1st quarter. Strengthening Families & Communities LLC now owns 707 shares of the company's stock valued at $37,000 after purchasing an additional 297 shares in the last quarter. SVB Wealth LLC purchased a new position in Ball in the 1st quarter valued at approximately $39,000. Whipplewood Advisors LLC raised its holdings in Ball by 764.9% during the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock worth $42,000 after purchasing an additional 719 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Ball by 40.4% during the first quarter. Federated Hermes Inc. now owns 1,311 shares of the company's stock worth $68,000 after purchasing an additional 377 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BALL has been the subject of a number of research reports. Mizuho lifted their target price on shares of Ball from $60.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Truist Financial upped their target price on Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Citigroup raised their price target on Ball from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. UBS Group upped their target price on shares of Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada upped their price objective on shares of Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ball presently has an average rating of "Hold" and an average price target of $65.27.

Ball Trading Up 0.2%

Ball stock traded up $0.12 during trading on Friday, reaching $51.24. The company had a trading volume of 1,995,081 shares, compared to its average volume of 2,129,264. 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 1.23, a quick ratio of 0.67 and a current ratio of 1.00. The stock's 50 day moving average price is $54.93 and its two-hundred day moving average price is $53.18. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.16 and a beta of 1.06.

Ball (NYSE:BALL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.10 billion. Ball had a net margin of 4.49% and a return on equity of 16.81%. Ball's revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the business earned $0.74 EPS. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, equities analysts expect that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Announces Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, September 2nd. This represents a $0.80 annualized dividend and a yield of 1.6%. Ball's dividend payout ratio is currently 41.45%.

Insider Buying and Selling at Ball

In other news, Chairman Daniel William Fisher sold 3,400 shares of the business's stock in a transaction dated 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 sale, the chairman owned 10,036 shares in the company, valued at approximately $517,355.80. The trade was a 25.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by corporate insiders.

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.