California State Teachers Retirement System Has $24.88 Million Stake in Ball Co. (BLL)

California State Teachers Retirement System reduced its holdings in shares of Ball Co. (NYSE:BLL) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 602,430 shares of the industrial products company’s stock after selling 48,941 shares during the quarter. California State Teachers Retirement System owned 0.17% of Ball worth $24,880,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BLL. Russell Investments Group Ltd. boosted its holdings in Ball by 79.1% during the second quarter. Russell Investments Group Ltd. now owns 51,570 shares of the industrial products company’s stock worth $2,177,000 after purchasing an additional 22,783 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Ball by 100.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 11,080 shares of the industrial products company’s stock worth $468,000 after purchasing an additional 5,540 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Ball by 44.6% during the second quarter. Canada Pension Plan Investment Board now owns 109,808 shares of the industrial products company’s stock worth $4,635,000 after purchasing an additional 33,887 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Ball by 108.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,249,387 shares of the industrial products company’s stock worth $52,737,000 after purchasing an additional 650,706 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in Ball by 172.5% during the second quarter. State of Wisconsin Investment Board now owns 259,270 shares of the industrial products company’s stock worth $10,944,000 after purchasing an additional 164,125 shares during the last quarter. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Ball Co. (BLL) opened at $38.53 on Tuesday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.04 and a quick ratio of 0.66. The firm has a market cap of $13,793.94, a PE ratio of 21.13, a price-to-earnings-growth ratio of 3.67 and a beta of 0.96. Ball Co. has a 52 week low of $35.65 and a 52 week high of $43.24.

Ball (NYSE:BLL) last released its earnings results on Thursday, November 2nd. The industrial products company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.07). The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Ball had a net margin of 2.13% and a return on equity of 18.31%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. equities research analysts anticipate that Ball Co. will post 1.95 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Thursday, November 30th. Ball’s payout ratio is 62.50%.

Several research firms recently weighed in on BLL. TheStreet cut shares of Ball from a “b-” rating to a “c+” rating in a report on Thursday, December 14th. BMO Capital Markets upgraded shares of Ball from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a report on Monday, December 4th. Vertical Research upgraded shares of Ball from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Friday. They noted that the move was a valuation call. KeyCorp cut shares of Ball from a “sector weight” rating to an “underweight” rating and cut their price target for the stock from $40.81 to $36.00 in a report on Friday, December 8th. They noted that the move was a valuation call. Finally, UBS began coverage on shares of Ball in a report on Monday, October 23rd. They set a “buy” rating and a $50.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.

In other Ball news, Chairman John A. Hayes sold 5,619 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $41.98, for a total value of $235,885.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Lisa Ann Pauley sold 17,090 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $40.79, for a total transaction of $697,101.10. Following the completion of the transaction, the senior vice president now owns 108,923 shares in the company, valued at $4,442,969.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,923 shares of company stock worth $1,392,977. Corporate insiders own 2.70% of the company’s stock.

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Ball 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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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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