Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ball Co. (NYSE:BLL) by 16.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,717 shares of the industrial products company’s stock after purchasing an additional 10,089 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ball were worth $2,478,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLL. JPMorgan Chase & Co. lifted its stake in shares of Ball by 32.3% in the 1st quarter. JPMorgan Chase & Co. now owns 22,174,838 shares of the industrial products company’s stock valued at $880,562,000 after purchasing an additional 5,409,589 shares in the last quarter. Manning & Napier Group LLC lifted its stake in shares of Ball by 56.9% in the 1st quarter. Manning & Napier Group LLC now owns 3,944,675 shares of the industrial products company’s stock valued at $156,641,000 after purchasing an additional 1,430,747 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Ball by 129.3% in the 1st quarter. Neuberger Berman Group LLC now owns 2,219,081 shares of the industrial products company’s stock valued at $88,120,000 after purchasing an additional 1,251,261 shares in the last quarter. Eaton Vance Management lifted its stake in shares of Ball by 70.7% in the 1st quarter. Eaton Vance Management now owns 2,601,557 shares of the industrial products company’s stock valued at $103,308,000 after purchasing an additional 1,077,639 shares in the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp acquired a new position in shares of Ball in the 1st quarter valued at about $36,335,000. 88.53% of the stock is currently owned by institutional investors and hedge funds.
In other Ball news, VP Scott C. Morrison sold 2,143 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $35.80, for a total value of $76,719.40. Following the transaction, the vice president now directly owns 408,256 shares of the company’s stock, valued at approximately $14,615,564.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.70% of the company’s stock.
BLL has been the topic of several research analyst reports. KeyCorp reaffirmed a “hold” rating on shares of Ball in a research note on Thursday, May 3rd. TheStreet lowered Ball from a “b” rating to a “c+” rating in a research note on Thursday, May 3rd. Zacks Investment Research raised Ball from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. ValuEngine lowered Ball from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 16th. Finally, Citigroup reduced their price objective on Ball from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Ball currently has an average rating of “Hold” and a consensus target price of $45.20.
Ball stock opened at $40.92 on Tuesday. The company has a market cap of $13.98 billion, a P/E ratio of 20.06, a P/E/G ratio of 3.28 and a beta of 0.85. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 1.79. Ball Co. has a one year low of $34.71 and a one year high of $43.24.
Ball (NYSE:BLL) last released its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.01 billion. Ball had a return on equity of 19.93% and a net margin of 4.12%. Ball’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. sell-side analysts expect that Ball Co. will post 2.25 EPS for the current year.
Ball declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 25th that allows the company to repurchase 25,000,000 outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, August 31st. Ball’s dividend payout ratio (DPR) is presently 19.61%.
Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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