Folger Nolan Fleming Douglas Capital Management Inc. Takes Position in Ball Co. (BLL)

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Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Ball Co. (NYSE:BLL) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 3,900 shares of the industrial products company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Ball by 0.8% during the 4th quarter. BlackRock Inc. now owns 21,566,169 shares of the industrial products company’s stock valued at $991,613,000 after purchasing an additional 161,245 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ball by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 4,417,275 shares of the industrial products company’s stock valued at $202,755,000 after purchasing an additional 311,457 shares in the last quarter. Northern Trust Corp boosted its position in shares of Ball by 2.5% during the 4th quarter. Northern Trust Corp now owns 3,720,010 shares of the industrial products company’s stock valued at $171,047,000 after purchasing an additional 91,945 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Ball by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,336,542 shares of the industrial products company’s stock valued at $153,414,000 after purchasing an additional 63,862 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Ball by 5.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,077,273 shares of the industrial products company’s stock valued at $141,493,000 after purchasing an additional 168,857 shares in the last quarter. 85.32% of the stock is currently owned by hedge funds and other institutional investors.

BLL has been the subject of several research reports. BMO Capital Markets lowered shares of Ball from an “outperform” rating to a “market perform” rating and set a $58.10 price objective for the company. in a research report on Monday, April 8th. They noted that the move was a valuation call. Morgan Stanley raised their price objective on shares of Ball from $55.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Zacks Investment Research lowered shares of Ball from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. UBS Group lowered shares of Ball from a “buy” rating to a “neutral” rating and set a $58.00 price objective for the company. in a research report on Friday, February 15th. Finally, Wells Fargo & Co upped their price objective on shares of Ball from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 21st. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Ball currently has a consensus rating of “Buy” and a consensus target price of $56.26.

In related news, VP Nate C. Carey sold 1,900 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $55.59, for a total value of $105,621.00. Following the completion of the transaction, the vice president now directly owns 16,336 shares of the company’s stock, valued at $908,118.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman John A. Hayes sold 8,955 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $55.43, for a total value of $496,375.65. Following the completion of the transaction, the chairman now directly owns 467,854 shares of the company’s stock, valued at $25,933,147.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,132 shares of company stock worth $1,969,583. 1.80% of the stock is currently owned by corporate insiders.

BLL stock traded up $0.01 during midday trading on Friday, hitting $62.58. 19,660 shares of the company traded hands, compared to its average volume of 2,017,543. Ball Co. has a twelve month low of $34.71 and a twelve month high of $65.31. The company has a quick ratio of 0.77, a current ratio of 1.09 and a debt-to-equity ratio of 1.84. The company has a market cap of $20.92 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 4.35 and a beta of 0.83.

Ball (NYSE:BLL) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. Ball had a return on equity of 20.39% and a net margin of 3.83%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 EPS. As a group, equities analysts expect that Ball Co. will post 2.61 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.15 dividend. This is an increase from Ball’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. Ball’s dividend payout ratio (DPR) is presently 18.18%.

Ball declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 23rd that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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Ball Profile

Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.

See Also: Green Investing

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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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