New Mexico Educational Retirement Board cut its stake in Ball Co. (NYSE:BLL) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,328 shares of the industrial products company’s stock after selling 900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Ball were worth $1,639,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Cigna Investments Inc. New increased its holdings in shares of Ball by 1.9% in the 4th quarter. Cigna Investments Inc. New now owns 9,906 shares of the industrial products company’s stock valued at $455,000 after acquiring an additional 189 shares during the period. IFP Advisors Inc boosted its position in shares of Ball by 24.5% in the 4th quarter. IFP Advisors Inc now owns 1,062 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 209 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in shares of Ball by 29.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,060 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 238 shares in the last quarter. Advisors Capital Management LLC boosted its position in shares of Ball by 0.4% in the 4th quarter. Advisors Capital Management LLC now owns 69,518 shares of the industrial products company’s stock worth $3,196,000 after purchasing an additional 247 shares in the last quarter. Finally, Cozad Asset Management Inc. boosted its position in shares of Ball by 4.1% in the 4th quarter. Cozad Asset Management Inc. now owns 7,437 shares of the industrial products company’s stock worth $342,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 87.22% of the company’s stock.
In other Ball news, COO Daniel William Fisher sold 7,000 shares of Ball stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $53.13, for a total transaction of $371,910.00. Following the completion of the sale, the chief operating officer now owns 38,661 shares of the company’s stock, valued at approximately $2,054,058.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman John A. Hayes sold 9,100 shares of Ball stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $57.97, for a total value of $527,527.00. Following the sale, the chairman now directly owns 468,115 shares of the company’s stock, valued at approximately $27,136,626.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,399 shares of company stock valued at $7,566,622. 1.80% of the stock is currently owned by insiders.
Ball (NYSE:BLL) last issued its quarterly earnings results on Thursday, January 31st. The industrial products company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.01). Ball had a return on equity of 20.08% and a net margin of 3.90%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.68 billion. As a group, equities research analysts expect that Ball Co. will post 2.61 earnings per share for the current year.
Ball announced that its Board of Directors has approved a share buyback program on Wednesday, January 23rd that permits the company to buyback 50,000,000 shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
BLL has been the subject of a number of recent analyst reports. ValuEngine raised Ball from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research cut Ball from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. KeyCorp reissued a “hold” rating on shares of Ball in a research report on Monday, January 7th. Citigroup lowered their price objective on Ball from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, January 7th. Finally, Morgan Stanley initiated coverage on Ball in a research report on Wednesday, January 16th. They issued an “overweight” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Ball has an average rating of “Hold” and a consensus target price of $55.59.
Ball Company Profile
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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