Burney Co. decreased its position in shares of Ball Co. (NYSE:BLL) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 86,656 shares of the industrial products company’s stock after selling 5,706 shares during the period. Burney Co.’s holdings in Ball were worth $3,081,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of BLL. Global X Management Co. LLC grew its holdings in shares of Ball by 15.1% during the first quarter. Global X Management Co. LLC now owns 18,144 shares of the industrial products company’s stock valued at $720,000 after buying an additional 2,386 shares during the last quarter. Sentry Investment Management LLC grew its holdings in shares of Ball by 31.7% during the first quarter. Sentry Investment Management LLC now owns 25,444 shares of the industrial products company’s stock valued at $1,010,000 after buying an additional 6,118 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Ball by 17.5% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,210 shares of the industrial products company’s stock valued at $445,000 after buying an additional 1,669 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Ball by 1.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 956,700 shares of the industrial products company’s stock valued at $37,991,000 after buying an additional 13,472 shares during the last quarter. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of Ball during the first quarter valued at approximately $497,000. Hedge funds and other institutional investors own 85.68% of the company’s stock.
Shares of Ball stock opened at $41.42 on Wednesday. The company has a market cap of $14.40 billion, a P/E ratio of 20.30, a P/E/G ratio of 3.38 and a beta of 0.88. Ball Co. has a twelve month low of $34.71 and a twelve month high of $43.24. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.92 and a current ratio of 1.23.
Ball (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $0.58 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.58. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.01 billion. Ball had a net margin of 4.12% and a return on equity of 19.93%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. research analysts anticipate that Ball Co. will post 2.25 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date is Friday, August 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. Ball’s dividend payout ratio (DPR) is 19.61%.
In related news, VP Scott C. Morrison sold 2,143 shares of the stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $35.80, for a total transaction of $76,719.40. Following the transaction, the vice president now owns 408,256 shares in the company, valued at $14,615,564.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on the stock. Barclays increased their price target on shares of Ball from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of Ball from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Royal Bank of Canada restated a “buy” rating and set a $47.00 price objective on shares of Ball in a research report on Monday, August 6th. ValuEngine upgraded shares of Ball from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, TheStreet upgraded shares of Ball from a “c+” rating to a “b-” rating in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $45.20.
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.
Recommended Story: Understanding Price to Earnings Ratio (PE)
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.