Macquarie Group Ltd. raised its holdings in Ball Corporation (NYSE:BLL) by 100.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,600 shares of the industrial products company’s stock after purchasing an additional 3,300 shares during the period. Macquarie Group Ltd.’s holdings in Ball Corporation were worth $279,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in BLL. Vanguard Group Inc. lifted its holdings in shares of Ball Corporation by 104.6% in the second quarter. Vanguard Group Inc. now owns 35,339,156 shares of the industrial products company’s stock valued at $1,491,666,000 after purchasing an additional 18,062,724 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Ball Corporation by 104.4% in the second quarter. BlackRock Inc. now owns 21,051,051 shares of the industrial products company’s stock valued at $888,566,000 after purchasing an additional 10,752,597 shares in the last quarter. FMR LLC lifted its holdings in shares of Ball Corporation by 91.2% in the second quarter. FMR LLC now owns 18,275,730 shares of the industrial products company’s stock valued at $771,419,000 after purchasing an additional 8,716,359 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ball Corporation by 111.7% in the second quarter. JPMorgan Chase & Co. now owns 14,936,002 shares of the industrial products company’s stock valued at $630,447,000 after purchasing an additional 7,881,436 shares in the last quarter. Finally, Iridian Asset Management LLC CT lifted its holdings in shares of Ball Corporation by 569.1% in the second quarter. Iridian Asset Management LLC CT now owns 6,257,810 shares of the industrial products company’s stock valued at $264,142,000 after purchasing an additional 5,322,617 shares in the last quarter. 86.48% of the stock is currently owned by institutional investors.
In related news, Chairman John A. Hayes sold 5,655 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $41.19, for a total transaction of $232,929.45. Following the completion of the sale, the chairman now directly owns 407,575 shares in the company, valued at $16,788,014.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Scott C. Morrison sold 13,249 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $40.35, for a total transaction of $534,597.15. Following the sale, the vice president now owns 392,091 shares of the company’s stock, valued at $15,820,871.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,617 shares of company stock valued at $3,664,485. 2.70% of the stock is currently owned by corporate insiders.
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Ball Corporation (NYSE:BLL) last posted 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). The company had revenue of $2.86 billion for 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 quarter in the prior year, the business posted $1.05 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 30th. Ball Corporation’s dividend payout ratio is currently 78.43%.
Several equities analysts recently issued reports on BLL shares. BidaskClub raised shares of Ball Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of Ball Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Deutsche Bank AG reissued a “buy” rating and set a $47.00 price objective (up previously from $44.00) on shares of Ball Corporation in a research note on Tuesday, July 18th. Robert W. Baird reissued a “buy” rating and set a $45.00 price objective on shares of Ball Corporation in a research note on Thursday, October 12th. Finally, UBS AG started coverage on shares of Ball Corporation in a research note on Monday, October 23rd. They set a “buy” rating and a $50.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $44.71.
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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