OLD National Bancorp IN Cuts Position in Ball Co. (NYSE:BLL)

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OLD National Bancorp IN lessened its holdings in Ball Co. (NYSE:BLL) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,590 shares of the industrial products company’s stock after selling 1,265 shares during the period. OLD National Bancorp IN’s holdings in Ball were worth $3,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in BLL. Vanguard Group Inc. increased its position in shares of Ball by 0.4% during the second quarter. Vanguard Group Inc. now owns 38,877,836 shares of the industrial products company’s stock worth $2,721,060,000 after acquiring an additional 139,324 shares during the period. BlackRock Inc. increased its position in shares of Ball by 3.2% during the second quarter. BlackRock Inc. now owns 22,850,210 shares of the industrial products company’s stock worth $1,599,286,000 after acquiring an additional 703,830 shares during the period. Morgan Stanley increased its position in shares of Ball by 448.7% during the second quarter. Morgan Stanley now owns 4,160,497 shares of the industrial products company’s stock worth $291,191,000 after acquiring an additional 3,402,247 shares during the period. Bank of America Corp DE increased its position in shares of Ball by 19.6% during the second quarter. Bank of America Corp DE now owns 3,865,420 shares of the industrial products company’s stock worth $270,541,000 after acquiring an additional 632,619 shares during the period. Finally, Northern Trust Corp increased its position in shares of Ball by 0.4% during the second quarter. Northern Trust Corp now owns 3,733,953 shares of the industrial products company’s stock worth $261,340,000 after acquiring an additional 16,255 shares during the period. Hedge funds and other institutional investors own 82.61% of the company’s stock.

Shares of BLL stock traded down $0.08 during mid-day trading on Wednesday, hitting $70.77. 739,001 shares of the stock were exchanged, compared to its average volume of 2,121,584. The stock’s fifty day simple moving average is $73.96 and its two-hundred day simple moving average is $69.11. The stock has a market capitalization of $24.00 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 5.10 and a beta of 0.73. Ball Co. has a 12-month low of $42.24 and a 12-month high of $81.88. 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 (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). Ball had a return on equity of 21.32% and a net margin of 4.54%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the business posted $0.58 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts expect that Ball Co. will post 2.58 earnings per share for the current fiscal year.

In other news, 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 transaction of $378,603.55. Following the completion of the transaction, the chief operating officer now directly owns 34,045 shares of the company’s stock, valued at approximately $2,716,450.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $1,566,213.78. Following the transaction, the vice president now directly owns 215,223 shares of the company’s stock, valued at $17,230,753.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 154,119 shares of company stock valued at $11,898,845. 1.80% of the stock is owned by insiders.

BLL has been the topic of several recent analyst reports. Vertical Research lowered Ball from a “hold” rating to a “sell” rating in a report on Monday, July 8th. ValuEngine lowered Ball from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Wells Fargo & Co lowered Ball from an “outperform” rating to a “market perform” rating and increased their target price for the company from $68.00 to $72.00 in a report on Monday, August 5th. KeyCorp reissued a “hold” rating on shares of Ball in a report on Friday, August 2nd. Finally, Citigroup dropped their target price on Ball from $86.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.61.

Ball 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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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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