Willow Creek Wealth Management Inc. boosted its stake in Ball Corporation (NYSE:BLL) by 100.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,430 shares of the industrial products company’s stock after buying an additional 35,248 shares during the period. Ball Corporation accounts for approximately 2.0% of Willow Creek Wealth Management Inc.’s investment portfolio, making the stock its 6th largest position. Willow Creek Wealth Management Inc.’s holdings in Ball Corporation were worth $2,973,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLL. State of Alaska Department of Revenue bought a new position in Ball Corporation during the first quarter worth about $544,000. DnB Asset Management AS boosted its stake in 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 worth $1,406,000 after buying an additional 3,700 shares in the last quarter. Pinnacle Bank acquired a new stake in Ball Corporation during the first quarter worth $126,000. CWM LLC acquired a new stake in Ball Corporation during the first quarter worth $4,529,000. Finally, Bank of Montreal Can boosted its stake in Ball Corporation by 39.4% in the first quarter. Bank of Montreal Can now owns 158,111 shares of the industrial products company’s stock worth $11,741,000 after buying an additional 44,669 shares in the last quarter. Institutional investors and hedge funds own 46.59% of the company’s stock.
Shares of Ball Corporation (NYSE BLL) traded up 0.27% during midday trading on Friday, reaching $40.16. The company’s stock had a trading volume of 1,659,275 shares. The stock has a 50 day moving average of $41.94 and a 200-day moving average of $39.14. The company has a market capitalization of $14.10 billion, a P/E ratio of 56.96 and a beta of 0.95. Ball Corporation has a 1-year low of $35.65 and a 1-year high of $43.06.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by $0.02. Ball Corporation had a net margin of 1.70% and a return on equity of 17.54%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the business posted $1.05 EPS. Ball Corporation’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ball Corporation will post $2.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. Ball Corporation’s payout ratio is currently 78.43%.
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A number of analysts have weighed in on the company. Barclays PLC raised their price target on Ball Corporation from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $49.00 target price (down previously from $50.00) on shares of Ball Corporation in a research report on Wednesday. BidaskClub cut Ball Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Vertical Group reiterated a “hold” rating and set a $43.00 target price (up previously from $41.50) on shares of Ball Corporation in a research report on Wednesday. Finally, Vertical Research cut Ball Corporation from a “buy” rating to a “hold” rating and set a $41.50 target price on the stock. in a research report on Friday, May 5th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $44.05.
In other news, COO Daniel William Fisher sold 1,750 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $41.77, for a total value of $73,097.50. Following the completion of the transaction, the chief operating officer now directly owns 11,594 shares in the company, valued at $484,281.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R David Hoover sold 22,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were 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 of the company’s stock, valued at $8,159,085. The disclosure for this sale can be found here. Insiders sold 117,654 shares of company stock worth $4,839,833 in the last 90 days. 2.70% of the stock is owned by company insiders.
About Ball Corporation
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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