Janney Montgomery Scott LLC boosted its position in Ball Corporation (NYSE:BLL) by 95.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,923 shares of the industrial products company’s stock after buying an additional 14,582 shares during the period. Janney Montgomery Scott LLC’s holdings in Ball Corporation were worth $1,263,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Ball Corporation by 2,907.6% in the first quarter. BlackRock Inc. now owns 10,298,454 shares of the industrial products company’s stock worth $764,763,000 after buying an additional 9,956,034 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Ball Corporation during the second quarter worth $110,705,000. JPMorgan Chase & Co. increased its stake in shares of Ball Corporation by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 7,054,566 shares of the industrial products company’s stock worth $523,873,000 after buying an additional 962,025 shares during the period. Iridian Asset Management LLC CT purchased a new stake in shares of Ball Corporation during the first quarter worth $69,447,000. Finally, SPF Beheer BV increased its stake in shares of Ball Corporation by 106.7% in the second quarter. SPF Beheer BV now owns 1,739,920 shares of the industrial products company’s stock worth $73,442,000 after buying an additional 898,244 shares during the period. 46.59% of the stock is owned by institutional investors.
Ball Corporation (NYSE:BLL) opened at 40.05 on Friday. The company has a 50-day moving average of $41.94 and a 200 day moving average of $39.14. The company has a market cap of $14.06 billion, a P/E ratio of 56.81 and a beta of 0.95. Ball Corporation has a 52 week low of $35.65 and a 52 week high of $43.06.
Ball Corporation (NYSE:BLL) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (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 company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities analysts forecast that Ball Corporation will post $2.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.00%. Ball Corporation’s payout ratio is presently 78.43%.
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BLL has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Ball Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $47.00 price target on shares of Ball Corporation in a report on Sunday, June 25th. Zacks Investment Research downgraded shares of Ball Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub raised shares of Ball Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $47.00 price target (up previously from $44.00) on shares of Ball Corporation in a report on Tuesday, July 18th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Ball Corporation presently has an average rating of “Hold” and a consensus target price of $44.05.
In other Ball Corporation news, Chairman John A. Hayes sold 5,622 shares of Ball Corporation stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $41.10, for a total transaction of $231,064.20. Following the completion of the sale, the chairman now directly owns 412,623 shares in the company, valued at $16,958,805.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R David Hoover sold 22,000 shares of Ball Corporation 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 sale, 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. Over the last quarter, insiders have sold 117,654 shares of company stock valued at $4,839,833. 2.70% of the stock is currently 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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