Gulf International Bank UK Ltd Sells 29,028 Shares of Ball Co. (BLL)

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Gulf International Bank UK Ltd lowered its stake in shares of Ball Co. (NYSE:BLL) by 27.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 78,019 shares of the industrial products company’s stock after selling 29,028 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Ball were worth $3,587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Packer & Co Ltd boosted its stake in Ball by 45.3% during the fourth quarter. Packer & Co Ltd now owns 1,239,800 shares of the industrial products company’s stock worth $44,295,000 after buying an additional 386,454 shares during the last quarter. Dodge & Cox acquired a new position in Ball during the third quarter worth $155,286,000. Morgan Stanley boosted its stake in Ball by 47.0% during the third quarter. Morgan Stanley now owns 1,201,586 shares of the industrial products company’s stock worth $52,859,000 after buying an additional 383,999 shares during the last quarter. Legal & General Group Plc raised its position in Ball by 4.1% in the third quarter. Legal & General Group Plc now owns 1,517,930 shares of the industrial products company’s stock valued at $66,774,000 after purchasing an additional 59,270 shares during the period. Finally, Nordea Investment Management AB raised its position in Ball by 51.7% in the third quarter. Nordea Investment Management AB now owns 29,447 shares of the industrial products company’s stock valued at $1,296,000 after purchasing an additional 10,037 shares during the period. 88.32% of the stock is currently owned by institutional investors.

BLL stock opened at $48.12 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.69 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $15.97 billion, a P/E ratio of 23.59, a PEG ratio of 3.28 and a beta of 0.75. Ball Co. has a 12-month low of $34.71 and a 12-month high of $50.98.

Ball (NYSE:BLL) last posted its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Ball had a net margin of 4.21% and a return on equity of 20.02%. Ball’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, research analysts expect that Ball Co. will post 2.2 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Monday, December 3rd were issued a $0.10 dividend. The ex-dividend date was Friday, November 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. Ball’s dividend payout ratio is presently 19.61%.

A number of equities research analysts have commented on BLL shares. Zacks Investment Research downgraded Ball from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Deutsche Bank set a $51.00 target price on Ball and gave the company a “buy” rating in a research report on Thursday, October 4th. Bank of America lifted their target price on Ball from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 2nd. Wells Fargo & Co lifted their target price on Ball from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, October 3rd. Finally, KeyCorp restated a “hold” rating on shares of Ball in a research report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Ball has an average rating of “Buy” and an average price target of $50.92.

In related news, VP Charles E. Baker sold 16,647 shares of the business’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $50.50, for a total value of $840,673.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jeff A. Knobel sold 6,899 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $47.42, for a total value of $327,150.58. Following the completion of the sale, the vice president now owns 68,389 shares in the company, valued at approximately $3,243,006.38. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

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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.

Further Reading: No Load Funds

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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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