State Treasurer State of Michigan Has $3.89 Million Stake in Ball Co. (BLL)

State Treasurer State of Michigan lowered its stake in shares of Ball Co. (NYSE:BLL) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,652 shares of the industrial products company’s stock after selling 4,100 shares during the period. State Treasurer State of Michigan’s holdings in Ball were worth $3,885,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in BLL. State Street Corp raised its stake in shares of Ball by 97.8% during the 2nd quarter. State Street Corp now owns 14,936,539 shares of the industrial products company’s stock worth $630,475,000 after purchasing an additional 7,386,379 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Ball by 25.8% during the 3rd quarter. Iridian Asset Management LLC CT now owns 7,871,056 shares of the industrial products company’s stock worth $325,075,000 after purchasing an additional 1,613,246 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ball by 135.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,191 shares of the industrial products company’s stock worth $59,482,000 after purchasing an additional 809,520 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ball by 174.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,069,355 shares of the industrial products company’s stock worth $45,138,000 after purchasing an additional 680,252 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Ball by 19.2% during the 3rd quarter. Bessemer Group Inc. now owns 4,074,776 shares of the industrial products company’s stock worth $168,289,000 after purchasing an additional 656,667 shares in the last quarter. Institutional investors own 89.65% of the company’s stock.

Ball Co. (NYSE:BLL) opened at $39.33 on Thursday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.66 and a current ratio of 1.04. Ball Co. has a 1-year low of $35.60 and a 1-year high of $43.24. The firm has a market capitalization of $12,927.55, a P/E ratio of 19.80, a P/E/G ratio of 3.01 and a beta of 0.97.

Ball (NYSE:BLL) last issued its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Ball had a return on equity of 18.31% and a net margin of 2.13%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. analysts anticipate that Ball Co. will post 1.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Wednesday, February 28th. Ball’s dividend payout ratio is 62.50%.

In other Ball news, VP Scott C. Morrison sold 2,591 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $38.62, for a total value of $100,064.42. Following the transaction, the vice president now directly owns 390,052 shares of the company’s stock, valued at approximately $15,063,808.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman John A. Hayes sold 5,519 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $40.74, for a total value of $224,844.06. Following the completion of the transaction, the chairman now directly owns 408,451 shares in the company, valued at $16,640,293.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,241 shares of company stock worth $638,091. Insiders own 2.70% of the company’s stock.

A number of brokerages have recently issued reports on BLL. Zacks Investment Research cut Ball from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Citigroup raised Ball from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, January 17th. BMO Capital Markets raised Ball from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Monday, December 4th. TheStreet lowered Ball from a “b-” rating to a “c+” rating in a report on Thursday, December 14th. Finally, KeyCorp reissued a “hold” rating on shares of Ball in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Ball presently has an average rating of “Hold” and an average price target of $45.00.

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About Ball

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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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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