State Street Corp Cuts Position in Ball Co. (NYSE:BLL)

State Street Corp trimmed its holdings in Ball Co. (NYSE:BLL) by 2.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,064,126 shares of the industrial products company’s stock after selling 337,606 shares during the quarter. State Street Corp owned about 4.31% of Ball worth $1,169,010,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Westpac Banking Corp boosted its holdings in Ball by 2.4% in the third quarter. Westpac Banking Corp now owns 128,587 shares of the industrial products company’s stock valued at $10,688,000 after purchasing an additional 3,022 shares in the last quarter. TD Asset Management Inc. boosted its holdings in Ball by 9.4% in the third quarter. TD Asset Management Inc. now owns 653,059 shares of the industrial products company’s stock valued at $54,282,000 after purchasing an additional 55,991 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Ball by 38.2% in the third quarter. Jupiter Asset Management Ltd. now owns 68,745 shares of the industrial products company’s stock valued at $5,710,000 after purchasing an additional 19,007 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Ball by 6.6% in the third quarter. Fifth Third Bancorp now owns 10,494 shares of the industrial products company’s stock valued at $872,000 after purchasing an additional 654 shares in the last quarter. Finally, Chilton Investment Co. LLC boosted its holdings in Ball by 3.0% in the third quarter. Chilton Investment Co. LLC now owns 3,280,621 shares of the industrial products company’s stock valued at $272,685,000 after purchasing an additional 96,000 shares in the last quarter. 73.60% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on BLL. Citigroup lowered their price target on Ball from $87.00 to $86.00 and set a “buy” rating for the company in a report on Monday, August 10th. Barclays increased their price objective on Ball from $80.00 to $88.00 in a report on Wednesday, October 7th. Robert W. Baird increased their price objective on Ball from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Ball from $91.00 to $107.00 and gave the company a “buy” rating in a report on Monday, November 9th. Finally, ValuEngine downgraded Ball from a “hold” rating to a “sell” rating in a report on Monday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $98.67.

Shares of NYSE BLL opened at $97.25 on Friday. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.07 and a quick ratio of 0.72. The stock has a fifty day moving average price of $91.44 and a 200 day moving average price of $77.92. Ball Co. has a 1-year low of $51.26 and a 1-year high of $102.76. The company has a market cap of $31.81 billion, a PE ratio of 62.74, a P/E/G ratio of 6.59 and a beta of 0.45.

Ball (NYSE:BLL) last issued its quarterly earnings results on Thursday, November 5th. The industrial products company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.12. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.01 billion. Ball had a return on equity of 33.14% and a net margin of 4.54%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. Analysts anticipate that Ball Co. will post 2.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Monday, November 30th. Ball’s payout ratio is 23.72%.

In other Ball news, COO Daniel William Fisher sold 3,400 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $95.52, for a total value of $324,768.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert D. Strain sold 7,887 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $77.41, for a total value of $610,532.67. Following the completion of the transaction, the vice president now owns 69,978 shares of the company’s stock, valued at approximately $5,416,996.98. The disclosure for this sale can be found here. Insiders sold 65,559 shares of company stock valued at $6,114,880 in the last quarter. 1.70% of the stock is currently owned by company insiders.

About Ball

Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.

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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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