LMR Partners LLP raised its stake in shares of Ball Corporation (NYSE:BLL) by 313.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,778 shares of the industrial products company’s stock after buying an additional 14,235 shares during the period. LMR Partners LLP’s holdings in Ball Corporation were worth $793,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Ball Corporation during the first quarter valued at $225,000. Deltec Asset Management LLC acquired a new position in shares of Ball Corporation during the first quarter valued at $1,114,000. Strs Ohio raised its position in shares of Ball Corporation by 1.9% in the first quarter. Strs Ohio now owns 17,346 shares of the industrial products company’s stock valued at $1,288,000 after buying an additional 330 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Ball Corporation during the first quarter valued at $1,139,000. Finally, Baker Ellis Asset Management LLC raised its position in shares of Ball Corporation by 4.1% in the first quarter. Baker Ellis Asset Management LLC now owns 27,098 shares of the industrial products company’s stock valued at $2,012,000 after buying an additional 1,070 shares during the last quarter. 53.01% of the stock is currently owned by hedge funds and other institutional investors.
Ball Corporation (BLL) opened at 40.12 on Friday. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 56.91 and a beta of 0.95. Ball Corporation has a 52-week low of $35.65 and a 52-week high of $43.06. The stock has a 50 day moving average of $41.64 and a 200-day moving average of $39.24.
Ball Corporation (NYSE:BLL) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.81 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. On average, analysts forecast that Ball Corporation will post $2.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 30th. Ball Corporation’s payout ratio is presently 78.43%.
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Several brokerages recently weighed in on BLL. TheStreet raised shares of Ball Corporation from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Zacks Investment Research raised shares of Ball Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 8th. BidaskClub raised shares of Ball Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Deutsche Bank AG reaffirmed a “buy” rating and set a $47.00 price objective (up previously from $44.00) on shares of Ball Corporation in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $47.00 price objective on shares of Ball Corporation in a research report on Sunday, June 25th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $44.05.
In other news, SVP Lisa Ann Pauley sold 37,984 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $42.03, for a total value of $1,596,467.52. Following the completion of the sale, the senior vice president now owns 108,905 shares of the company’s stock, valued at approximately $4,577,277.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director R David Hoover sold 10,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $40.22, for a total value of $402,200.00. Following the completion of the sale, the director now directly owns 183,260 shares of the company’s stock, valued at approximately $7,370,717.20. The disclosure for this sale can be found here. In the last three months, insiders sold 108,903 shares of company stock valued at $4,499,930. 2.70% of the stock is currently owned by insiders.
About Ball Corporation
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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