Louisiana State Employees Retirement System increased its stake in Ball Corp. (NYSE:BLL) by 20.0% during the second quarter, Holdings Channel reports. The firm owned 11,400 shares of the company’s stock after buying an additional 1,900 shares during the period. Louisiana State Employees Retirement System’s holdings in Ball Corp. were worth $824,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised 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 last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 worth $266,514,000 after buying an additional 99,848 shares during the last quarter. Brookside Capital Management LLC acquired a new position in shares of Ball Corp. during the first quarter worth about $96,483,000. Geode Capital Management LLC raised its position in shares of Ball Corp. by 5.5% in the first quarter. Geode Capital Management LLC now owns 1,128,737 shares of the company’s stock worth $80,306,000 after buying an additional 58,400 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Ball Corp. by 2.2% in the first quarter. BlackRock Group LTD now owns 993,383 shares of the company’s stock worth $70,817,000 after buying an additional 21,804 shares during the last quarter. 77.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ball Corp. (NYSE:BLL) traded down 1.55% on Friday, reaching $78.32. The company had a trading volume of 665,718 shares. The company’s 50-day moving average is $79.45 and its 200 day moving average is $74.41. Ball Corp. has a 12 month low of $62.30 and a 12 month high of $82.24. The firm has a market capitalization of $13.65 billion, a PE ratio of 36.09 and a beta of 1.02.
Ball Corp. (NYSE:BLL) last released its 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. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.17 billion. Ball Corp. had a return on equity of 27.28% and a net margin of 4.45%. The company’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. Equities analysts forecast that Ball Corp. will post $3.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Tuesday, August 30th. Ball Corp.’s dividend payout ratio (DPR) is currently 22.13%.
A number of equities analysts have issued reports on BLL shares. Bank of America Corp. reaffirmed a “buy” rating and issued a $90.00 target price on shares of Ball Corp. in a research report on Thursday, September 29th. Zacks Investment Research upgraded Ball Corp. from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Wednesday. Barclays PLC started coverage on Ball Corp. in a report on Thursday, July 14th. They issued an “equal weight” rating and a $75.00 price target for the company. Jefferies Group reiterated a “buy” rating and issued a $86.00 price target on shares of Ball Corp. in a report on Tuesday, July 5th. Finally, Citigroup Inc. started coverage on Ball Corp. in a report on Friday, July 29th. They issued a “neutral” rating and a $77.00 price target for the company. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Ball Corp. currently has an average rating of “Buy” and a consensus target price of $85.43.
In other Ball Corp. news, VP Shawn M. Barker sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $80.34, for a total value of $1,285,440.00. Following the sale, the vice president now owns 3,397 shares of the company’s stock, valued at approximately $272,914.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cynthia A. Niekamp bought 3,000 shares of the stock in a transaction on Thursday, August 18th. The stock was acquired at an average cost of $80.37 per share, for a total transaction of $241,110.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at $241,110. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.
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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