Sei Investments Co. raised its position in Ball Corporation (NYSE:BLL) by 307.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,317 shares of the industrial products company’s stock after buying an additional 163,238 shares during the period. Sei Investments Co. owned approximately 0.06% of Ball Corporation worth $9,131,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. American Research & Management Co. boosted its stake in shares of Ball Corporation by 100.0% in the second quarter. American Research & Management Co. now owns 2,800 shares of the industrial products company’s stock worth $118,000 after buying an additional 1,400 shares in the last quarter. Pinnacle Bank acquired a new stake in shares of Ball Corporation during the first quarter worth $126,000. Ledyard National Bank boosted its stake in shares of Ball Corporation by 520.0% in the second quarter. Ledyard National Bank now owns 3,100 shares of the industrial products company’s stock worth $131,000 after buying an additional 2,600 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Ball Corporation by 17.1% in the first quarter. First Personal Financial Services now owns 1,797 shares of the industrial products company’s stock worth $133,000 after buying an additional 262 shares in the last quarter. Finally, Advisor Partners LLC acquired a new stake in shares of Ball Corporation during the first quarter worth $201,000. Hedge funds and other institutional investors own 46.59% of the company’s stock.
Ball Corporation (BLL) opened at 40.16 on Friday. The stock has a 50 day moving average of $41.90 and a 200-day moving average of $60.26. The stock has a market cap of $14.10 billion, a P/E ratio of 56.96 and a beta of 0.95. Ball Corporation has a one year low of $35.65 and a one year 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 for the quarter, missing the consensus estimate of $0.55 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.81 billion. Ball Corporation had a return on equity of 17.63% and a net margin of 1.70%. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. Analysts anticipate that Ball Corporation will post $2.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, August 30th. Ball Corporation’s payout ratio is currently 78.43%.
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A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Ball Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Tuesday, July 4th. Vertical Research cut shares of Ball Corporation from a “buy” rating to a “hold” rating and set a $41.50 price target for the company. in a research note on Friday, May 5th. ValuEngine upgraded shares of Ball Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 18th. Jefferies Group LLC raised their target price on shares of Ball Corporation from $45.00 to $47.50 and gave the stock a “buy” rating in a research note on Friday, May 5th. Finally, BidaskClub upgraded shares of Ball Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Ball Corporation has an average rating of “Hold” and a consensus price target of $44.05.
In related news, Chairman John A. Hayes sold 5,622 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $41.10, for a total value of $231,064.20. Following the completion of the sale, the chairman now owns 412,623 shares of the company’s stock, valued at $16,958,805.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lisa Ann Pauley sold 37,984 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $42.03, for a total transaction of $1,596,467.52. Following the completion of the sale, the senior vice president now directly owns 108,905 shares of the company’s stock, valued at approximately $4,577,277.15. The disclosure for this sale can be found here. Insiders sold 117,654 shares of company stock valued at $4,839,833 in the last ninety days. Corporate insiders own 2.70% of the company’s stock.
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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