Palisade Asset Management LLC boosted its stake in shares of Ball Corporation (NYSE:BLL) by 98.7% during the second quarter, Holdings Channel reports. The institutional investor owned 209,134 shares of the industrial products company’s stock after buying an additional 103,867 shares during the period. Ball Corporation accounts for about 1.7% of Palisade Asset Management LLC’s holdings, making the stock its 29th largest position. Palisade Asset Management LLC’s holdings in Ball Corporation were worth $8,828,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CAPROCK Group Inc. increased its position in shares of Ball Corporation by 138.5% in the first quarter. CAPROCK Group Inc. now owns 7,607 shares of the industrial products company’s stock valued at $565,000 after buying an additional 4,418 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Ball Corporation by 68.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 4,840 shares of the industrial products company’s stock valued at $359,000 after buying an additional 1,959 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Ball Corporation during the first quarter valued at approximately $544,000. DnB Asset Management AS increased its position in shares of Ball Corporation by 24.3% in the first quarter. DnB Asset Management AS now owns 18,930 shares of the industrial products company’s stock valued at $1,406,000 after buying an additional 3,700 shares in the last quarter. Finally, Pinnacle Bank purchased a new position in shares of Ball Corporation during the first quarter valued at approximately $126,000. Institutional investors and hedge funds own 46.59% of the company’s stock.
Shares of Ball Corporation (NYSE BLL) opened at 40.28 on Thursday. The company has a 50-day moving average price of $41.99 and a 200-day moving average price of $39.14. The firm has a market capitalization of $14.14 billion, a P/E ratio of 29.97 and a beta of 0.95. Ball Corporation has a 12-month low of $35.65 and a 12-month high of $43.06.
Ball Corporation (NYSE:BLL) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. Ball Corporation had a return on equity of 17.54% and a net margin of 1.70%. The business’s revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. Equities analysts predict that Ball Corporation will post $2.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Wednesday, August 30th. Ball Corporation’s payout ratio is presently 78.43%.
Several brokerages have recently issued reports on BLL. TheStreet upgraded shares of Ball Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Zacks Investment Research upgraded shares of Ball Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 8th. BidaskClub upgraded shares of Ball Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Deutsche Bank AG reiterated a “buy” rating and set a $47.00 price target (up from $44.00) on shares of Ball Corporation in a report on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $47.00 price target on shares of Ball Corporation in a report on Sunday, June 25th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Ball Corporation currently has an average rating of “Hold” and an average target price of $44.05.
In related news, Chairman John A. Hayes sold 5,683 shares of Ball Corporation stock in a transaction on Friday, July 7th. The shares were sold at an average price of $42.23, for a total value of $239,993.09. Following the transaction, the chairman now owns 407,562 shares in the company, valued at approximately $17,211,343.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R David Hoover sold 22,000 shares of Ball Corporation stock in a transaction on Friday, May 19th. The stock was sold at an average price of $39.75, for a total transaction of $874,500.00. Following the completion of the transaction, the director now owns 205,260 shares in the company, valued at approximately $8,159,085. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,654 shares of company stock worth $4,839,833. 2.70% of the stock is owned by corporate insiders.
Ball Corporation Company Profile
Ball Corporation 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. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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