OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Ball Co. (NYSE:BLL) by 39.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,114 shares of the industrial products company’s stock after purchasing an additional 6,200 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Ball were worth $837,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in Ball in the 4th quarter worth $121,000. Calton & Associates Inc. acquired a new position in Ball in the 4th quarter worth $125,000. Benjamin F. Edwards & Company Inc. boosted its stake in Ball by 63.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,881 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 1,500 shares during the period. Dupont Capital Management Corp acquired a new position in Ball in the 4th quarter worth $164,000. Finally, Dai Ichi Life Insurance Company Ltd acquired a new position in Ball in the 3rd quarter worth $209,000. 87.88% of the stock is owned by hedge funds and other institutional investors.
Ball stock opened at $38.77 on Friday. Ball Co. has a one year low of $35.60 and a one year high of $43.24. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.54 and a current ratio of 0.92. The company has a market cap of $13,586.64, a PE ratio of 34.62, a PEG ratio of 3.06 and a beta of 0.88.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were issued a $0.10 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.03%. Ball’s payout ratio is 35.71%.
BLL has been the subject of a number of research analyst reports. TheStreet raised shares of Ball from a “c+” rating to a “b-” rating in a research note on Tuesday, March 6th. Citigroup raised shares of Ball from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, January 17th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $48.00 target price (up from $47.00) on shares of Ball in a research note on Thursday, February 8th. BMO Capital Markets upgraded shares of Ball from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research note on Monday, December 4th. Finally, KeyCorp upgraded shares of Ball from an “underweight” rating to a “sector weight” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $45.62.
In other news, Chairman John A. Hayes sold 6,782 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $38.61, for a total value of $261,853.02. Following the sale, the chairman now directly owns 398,485 shares of the company’s stock, valued at approximately $15,385,505.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Scott C. Morrison sold 2,591 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $38.62, for a total transaction of $100,064.42. Following the completion of the sale, the vice president now directly owns 390,052 shares in the company, valued at $15,063,808.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,556 shares of company stock worth $1,904,836. 2.70% of the stock is owned by insiders.
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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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