Gradient Investments LLC acquired a new position in shares of Ball Co. (NYSE:BLL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,611 shares of the industrial products company’s stock, valued at approximately $117,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Balyasny Asset Management LLC raised its position in shares of Ball by 16.0% during the second quarter. Balyasny Asset Management LLC now owns 127,035 shares of the industrial products company’s stock worth $8,891,000 after acquiring an additional 17,543 shares during the last quarter. Calton & Associates Inc. bought a new position in shares of Ball during the second quarter worth about $213,000. Honkamp Krueger Financial Services Inc. bought a new position in shares of Ball during the second quarter worth about $236,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Ball by 46.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,114 shares of the industrial products company’s stock worth $1,267,000 after acquiring an additional 5,753 shares during the last quarter. Finally, AMI Asset Management Corp bought a new position in shares of Ball during the second quarter worth about $49,342,000. Institutional investors own 82.72% of the company’s stock.
Shares of BLL stock opened at $72.61 on Friday. The company has a market cap of $23.99 billion, a P/E ratio of 32.26, a PEG ratio of 5.08 and a beta of 0.73. The stock has a 50 day simple moving average of $75.37 and a two-hundred day simple moving average of $68.28. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.81 and a current ratio of 1.10. Ball Co. has a fifty-two week low of $42.24 and a fifty-two week high of $81.88.
Ball (NYSE:BLL) last issued its earnings results on Thursday, August 1st. The industrial products company reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.03 billion. Ball had a return on equity of 21.32% and a net margin of 4.54%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, research analysts predict that Ball Co. will post 2.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. Ball’s dividend payout ratio (DPR) is presently 27.27%.
In other Ball news, VP Charles E. Baker sold 19,563 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $80.06, for a total value of $1,566,213.78. Following the completion of the sale, the vice president now owns 215,223 shares of the company’s stock, valued at $17,230,753.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Daniel William Fisher sold 4,745 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $79.79, for a total value of $378,603.55. Following the completion of the sale, the chief operating officer now directly owns 34,045 shares of the company’s stock, valued at approximately $2,716,450.55. The disclosure for this sale can be found here. Insiders sold 138,028 shares of company stock valued at $10,707,950 in the last three months. Insiders own 1.80% of the company’s stock.
A number of equities research analysts have weighed in on the company. KeyCorp reiterated a “hold” rating on shares of Ball in a report on Friday, August 2nd. Wells Fargo & Co downgraded Ball from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $68.00 to $72.00 in a report on Monday, August 5th. ValuEngine downgraded Ball from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. UBS Group lifted their target price on Ball from $60.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Vertical Research downgraded Ball from a “hold” rating to a “sell” rating in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Ball currently has a consensus rating of “Hold” and an average target price of $64.71.
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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