BlackRock Inc. increased its position in Ball Corporation (NYSE:BLL) by 2,907.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,298,454 shares of the industrial products company’s stock after buying an additional 9,956,034 shares during the period. BlackRock Inc. owned about 5.88% of Ball Corporation worth $764,763,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in BLL. Quantitative Systematic Strategies LLC acquired a new stake in Ball Corporation during the third quarter worth $1,552,000. Russell Investments Group Ltd. acquired a new stake in Ball Corporation during the fourth quarter worth $2,579,000. Bessemer Group Inc. increased its stake in Ball Corporation by 35.7% in the fourth quarter. Bessemer Group Inc. now owns 1,385 shares of the industrial products company’s stock worth $104,000 after buying an additional 364 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Ball Corporation by 76.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,429 shares of the industrial products company’s stock worth $483,000 after buying an additional 2,776 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Ball Corporation by 3.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 227,612 shares of the industrial products company’s stock worth $17,087,000 after buying an additional 7,850 shares in the last quarter. 43.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ball Corporation (NYSE:BLL) traded down 0.24% during mid-day trading on Tuesday, reaching $41.79. The company’s stock had a trading volume of 2,185,964 shares. Ball Corporation has a 12 month low of $33.76 and a 12 month high of $42.10. The firm has a market cap of $14.67 billion, a PE ratio of 31.09 and a beta of 0.95. The company has a 50-day moving average of $53.97 and a 200-day moving average of $69.33.
Ball Corporation (NYSE:BLL) last posted its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Ball Corporation had a return on equity of 16.46% and a net margin of 4.59%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The business’s revenue was up 40.8% on a year-over-year basis. On average, analysts predict that Ball Corporation will post $2.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.40 annualized dividend and a yield of 0.96%. This is a boost from Ball Corporation’s previous quarterly dividend of $0.07. Ball Corporation’s payout ratio is currently 26.67%.
A number of equities research analysts have weighed in on BLL shares. Goldman Sachs Group, Inc. (The) started coverage on shares of Ball Corporation in a research note on Thursday, March 2nd. They set a “neutral” rating and a $40.00 price target on the stock. They noted that the move was a valuation call. BMO Capital Markets reiterated a “hold” rating and set a $39.50 price target on shares of Ball Corporation in a research note on Tuesday, March 14th. Zacks Investment Research downgraded shares of Ball Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Vertical Research downgraded shares of Ball Corporation from a “buy” rating to a “hold” rating and set a $41.50 price target on the stock. in a research report on Friday, May 5th. Finally, Jefferies Group LLC upped their price target on shares of Ball Corporation from $45.00 to $47.50 and gave the stock a “buy” rating in a research report on Friday, May 5th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.23.
In other Ball Corporation news, Chairman John A. Hayes sold 2,717 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $80.62, for a total value of $219,044.54. Following the transaction, the chairman now owns 206,255 shares of the company’s stock, valued at $16,628,278.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Lisa Ann Pauley sold 20,960 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $41.48, for a total value of $869,420.80. Following the completion of the transaction, the senior vice president now directly owns 108,887 shares in the company, valued at approximately $4,516,632.76. The disclosure for this sale can be found here. In the last three months, insiders sold 72,952 shares of company stock worth $3,188,747. Insiders own 2.70% of the company’s stock.
Ball Corporation Company Profile
Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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