Delta Capital Management LLC lowered its position in Ball Corp. (NYSE:BLL) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 3,815 shares of the company’s stock after selling 100 shares during the period. Delta Capital Management LLC’s holdings in Ball Corp. were worth $276,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Investec Asset Management LTD purchased a new position in shares of Ball Corp. during the first quarter worth approximately $217,000. Daiwa Securities Group Inc. boosted its position in shares of Ball Corp. by 10.0% in the second quarter. Daiwa Securities Group Inc. now owns 3,300 shares of the company’s stock worth $239,000 after buying an additional 300 shares during the period. Conning Inc. boosted its position in shares of Ball Corp. by 0.3% in the second quarter. Conning Inc. now owns 3,364 shares of the company’s stock worth $243,000 after buying an additional 10 shares during the period. Cleararc Capital Inc. boosted its position in shares of Ball Corp. by 4.3% in the first quarter. Cleararc Capital Inc. now owns 3,468 shares of the company’s stock worth $247,000 after buying an additional 142 shares during the period. Finally, Commonwealth Equity Services Inc boosted its position in shares of Ball Corp. by 13.0% in the first quarter. Commonwealth Equity Services Inc now owns 3,580 shares of the company’s stock worth $255,000 after buying an additional 411 shares during the period. 77.65% of the stock is owned by hedge funds and other institutional investors.
Ball Corp. (NYSE:BLL) traded up 0.44% during trading on Wednesday, reaching $81.28. The company had a trading volume of 308,039 shares. The stock has a market cap of $14.16 billion, a PE ratio of 37.46 and a beta of 1.02. The company has a 50-day moving average price of $79.32 and a 200 day moving average price of $74.86. Ball Corp. has a 52-week low of $62.30 and a 52-week high of $82.24.
Ball Corp. (NYSE:BLL) last posted its earnings results on Thursday, August 4th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. Ball Corp. had a return on equity of 27.28% and a net margin of 4.45%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the firm earned $0.89 EPS. The firm’s revenue was down 6.5% compared to the same quarter last year. On average, analysts anticipate that Ball Corp. will post $3.44 earnings per share for the current year.
A number of brokerages recently commented on BLL. Citigroup Inc. began coverage on Ball Corp. in a report on Friday, July 29th. They set a “neutral” rating and a $77.00 target price for the company. Jefferies Group raised their target price on Ball Corp. from $86.00 to $94.00 and gave the company a “buy” rating in a report on Friday, August 5th. Bank of America Corp. restated a “buy” rating and set a $90.00 target price on shares of Ball Corp. in a report on Thursday, September 29th. Vertical Group cut Ball Corp. to a “hold” rating in a report on Friday, August 5th. Finally, Robert W. Baird restated an “outperform” rating and set a $85.00 target price on shares of Ball Corp. in a report on Sunday, August 7th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $85.43.
In other Ball Corp. news, Director Robert W. Alspaugh bought 3,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were purchased at an average cost of $79.27 per share, for a total transaction of $237,810.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $39,635. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shawn M. Barker sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $80.34, for a total value of $1,285,440.00. Following the completion of the sale, the vice president now owns 3,397 shares in the company, valued at $272,914.98. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
Ball Corp. Company Profile
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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