Principal Financial Group Inc. raised its position in Ball Corp. (NYSE:BLL) by 23.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,144 shares of the company’s stock after buying an additional 50,383 shares during the period. Principal Financial Group Inc. owned approximately 0.19% of Ball Corp. worth $19,095,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of BLL. Wellington Management Group LLP increased its position in shares of Ball Corp. by 4.7% in the first quarter. Wellington Management Group LLP now owns 5,452,134 shares of the company’s stock worth $388,683,000 after buying an additional 242,530 shares during the period. JPMorgan Chase & Co. increased its position in Ball Corp. by 0.5% in the second quarter. JPMorgan Chase & Co. now owns 5,401,930 shares of the company’s stock valued at $390,505,000 after buying an additional 25,766 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Ball Corp. by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,738,449 shares of the company’s stock valued at $266,514,000 after buying an additional 99,848 shares during the last quarter. William Blair Investment Management LLC increased its position in Ball Corp. by 2.2% in the second quarter. William Blair Investment Management LLC now owns 2,615,210 shares of the company’s stock valued at $189,054,000 after buying an additional 55,735 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in Ball Corp. by 3.3% in the second quarter. Schroder Investment Management Group now owns 1,714,731 shares of the company’s stock valued at $123,957,000 after buying an additional 55,490 shares during the last quarter. 77.68% of the stock is owned by institutional investors and hedge funds.
Shares of Ball Corp. (NYSE:BLL) traded down 1.446% on Monday, reaching $80.765. The company had a trading volume of 176,579 shares. The company has a 50 day moving average price of $79.57 and a 200 day moving average price of $74.07. Ball Corp. has a 52-week low of $62.30 and a 52-week high of $82.24. The stock has a market capitalization of $14.07 billion, a PE ratio of 37.219 and a beta of 1.02.
Ball Corp. (NYSE:BLL) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.06. Ball Corp. had a net margin of 4.45% and a return on equity of 27.28%. The company earned $2.03 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ball Corp. will post $3.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Tuesday, August 30th. Ball Corp.’s dividend payout ratio (DPR) is 22.13%.
Several research firms recently weighed in on BLL. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ball Corp. in a research note on Saturday, July 9th. Jefferies Group raised their price target on Ball Corp. from $86.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. TheStreet raised Ball Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Robert W. Baird reissued an “outperform” rating and set a $85.00 price target on shares of Ball Corp. in a research report on Sunday, August 7th. Finally, Vertical Research downgraded Ball Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $84.00.
In other news, VP Shawn M. Barker sold 16,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $80.34, for a total transaction of $1,285,440.00. Following the completion of the transaction, the vice president now owns 3,397 shares of the company’s stock, valued at $272,914.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cynthia A. Niekamp acquired 3,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were bought at an average cost of $80.37 per share, with a total value of $241,110.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $241,110. The disclosure for this purchase can be found here. Company insiders own 3.50% of the company’s stock.
About Ball Corp.
Ball Corporation (Ball) is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. The Company operates in four segments: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies.
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