Wolverine Asset Management LLC acquired a new stake in Ball Co. (NYSE:BLL) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 40,000 shares of the industrial products company’s stock, valued at approximately $1,514,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT increased its stake in shares of Ball by 25.8% during the third quarter. Iridian Asset Management LLC CT now owns 7,871,056 shares of the industrial products company’s stock worth $325,075,000 after purchasing an additional 1,613,246 shares in the last quarter. Lodge Hill Capital LLC purchased a new stake in shares of Ball during the fourth quarter worth about $39,743,000. Eaton Vance Management increased its stake in shares of Ball by 87.3% during the fourth quarter. Eaton Vance Management now owns 1,523,918 shares of the industrial products company’s stock worth $57,680,000 after purchasing an additional 710,179 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new stake in shares of Ball during the fourth quarter worth about $23,561,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Ball by 23.1% during the third quarter. Bank of New York Mellon Corp now owns 3,203,954 shares of the industrial products company’s stock worth $132,323,000 after purchasing an additional 602,244 shares in the last quarter. 87.86% of the stock is owned by institutional investors.
Ball Co. (BLL) opened at $41.55 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 1.61. The firm has a market cap of $14,651.98, a PE ratio of 37.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.88. Ball Co. has a fifty-two week low of $35.60 and a fifty-two week high of $43.24.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.40 annualized dividend and a yield of 0.96%. Ball’s payout ratio is 35.71%.
In other Ball news, Director R David Hoover sold 2,200 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $40.71, for a total value of $89,562.00. Following the transaction, the director now directly owns 194,594 shares in the company, valued at approximately $7,921,921.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John A. Hayes sold 6,782 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $38.61, for a total transaction of $261,853.02. Following the completion of the transaction, the chairman now owns 398,485 shares in the company, valued at $15,385,505.85. The disclosure for this sale can be found here. Insiders sold a total of 47,677 shares of company stock worth $1,867,290 over the last quarter. 2.70% of the stock is currently owned by company insiders.
BLL has been the subject of a number of research reports. TheStreet raised shares of Ball from a “c+” rating to a “b-” rating in a research note on Tuesday, March 6th. Citigroup raised shares of Ball from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Wednesday, January 17th. Vertical Research raised shares of Ball from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Friday, December 15th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Ball from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, BMO Capital Markets raised shares of Ball from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research note on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $45.62.
WARNING: “Wolverine Asset Management LLC Acquires Shares of 40,000 Ball Co. (BLL)” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://sportsperspectives.com/2018/03/12/wolverine-asset-management-llc-acquires-shares-of-40000-ball-co-bll.html.
Ball 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.
Want to see what other hedge funds are holding BLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ball Co. (NYSE:BLL).
Receive News & Ratings for Ball Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ball and related companies with MarketBeat.com's FREE daily email newsletter.