Norinchukin Bank The lowered its position in shares of Ball Co. (NYSE:BLL) by 25.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,158 shares of the industrial products company’s stock after selling 16,300 shares during the period. Norinchukin Bank The’s holdings in Ball were worth $3,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Calton & Associates Inc. acquired a new stake in shares of Ball during the 2nd quarter worth approximately $213,000. Westpac Banking Corp boosted its position in shares of Ball by 21.0% during the 1st quarter. Westpac Banking Corp now owns 338,380 shares of the industrial products company’s stock worth $19,579,000 after purchasing an additional 58,724 shares during the period. Tyers Asset Management LLC boosted its position in shares of Ball by 115.1% during the 1st quarter. Tyers Asset Management LLC now owns 41,712 shares of the industrial products company’s stock worth $2,413,000 after purchasing an additional 22,320 shares during the period. AMI Asset Management Corp purchased a new position in shares of Ball during the 2nd quarter worth approximately $49,342,000. Finally, Greenleaf Trust purchased a new position in shares of Ball during the 2nd quarter worth approximately $1,249,000. Institutional investors and hedge funds own 79.67% of the company’s stock.
In related news, VP Scott C. Morrison sold 17,224 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $76.40, for a total transaction of $1,315,913.60. Following the sale, the vice president now owns 442,361 shares of the company’s stock, valued at $33,796,380.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Charles E. Baker sold 19,563 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $80.06, for a total transaction of $1,566,213.78. Following the sale, the vice president now directly owns 215,223 shares in the company, valued at approximately $17,230,753.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,446 shares of company stock worth $10,854,194. 1.80% of the stock is currently owned by company insiders.
Several brokerages have commented on BLL. UBS Group raised their price target on shares of Ball from $60.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Morgan Stanley raised their price target on shares of Ball from $71.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. KeyCorp reissued a “hold” rating on shares of Ball in a research report on Friday, August 2nd. Vertical Research cut shares of Ball from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Finally, ValuEngine cut shares of Ball from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Ball currently has an average rating of “Hold” and an average target price of $63.46.
NYSE BLL traded up $0.13 during trading on Monday, reaching $80.41. The company’s stock had a trading volume of 1,415,538 shares, compared to its average volume of 1,916,299. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.81 and a current ratio of 1.10. The firm has a market cap of $26.70 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 5.66 and a beta of 0.80. Ball Co. has a twelve month low of $41.34 and a twelve month high of $80.97. The business’s fifty day moving average price is $75.03 and its 200-day moving average price is $64.42.
Ball (NYSE:BLL) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.03 billion. Ball had a net margin of 4.54% and a return on equity of 21.32%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, sell-side analysts forecast that Ball Co. will post 2.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.15 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.75%. Ball’s dividend payout ratio is presently 27.27%.
Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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