King Luther Capital Management Corp reduced its holdings in shares of Ball Co. (NYSE:BLL) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,338 shares of the industrial products company’s stock after selling 21,500 shares during the quarter. King Luther Capital Management Corp’s holdings in Ball were worth $16,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Three Peaks Capital Management LLC bought a new position in shares of Ball during the third quarter valued at $3,033,000. Private Advisor Group LLC bought a new position in shares of Ball during the second quarter valued at $285,000. Wolverine Asset Management LLC lifted its holdings in shares of Ball by 96.4% during the second quarter. Wolverine Asset Management LLC now owns 55,000 shares of the industrial products company’s stock valued at $1,955,000 after purchasing an additional 27,000 shares in the last quarter. Nomura Holdings Inc. lifted its holdings in shares of Ball by 5.7% during the second quarter. Nomura Holdings Inc. now owns 29,065 shares of the industrial products company’s stock valued at $1,034,000 after purchasing an additional 1,558 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Ball by 5.5% during the second quarter. CIBC Asset Management Inc now owns 34,755 shares of the industrial products company’s stock valued at $1,236,000 after purchasing an additional 1,802 shares in the last quarter. 88.48% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on BLL shares. Zacks Investment Research downgraded Ball from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Bank of America increased their target price on Ball from $44.00 to $50.00 and gave the company a “buy” rating in a report on Monday, September 24th. JPMorgan Chase & Co. increased their target price on Ball from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Citigroup increased their target price on Ball from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 2nd. Finally, Robert W. Baird increased their target price on Ball from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 3rd. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $50.00.
BLL stock opened at $49.03 on Thursday. Ball Co. has a fifty-two week low of $34.71 and a fifty-two week high of $50.98. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.69 and a current ratio of 1.01. The stock has a market capitalization of $16.63 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 4.04 and a beta of 0.75.
Ball (NYSE:BLL) last posted its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.04). Ball had a return on equity of 20.02% and a net margin of 4.21%. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the business earned $0.52 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Ball Co. will post 2.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, November 30th. Ball’s dividend payout ratio (DPR) is currently 19.61%.
In related news, Chairman John A. Hayes sold 96,667 shares of the stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $43.00, for a total transaction of $4,156,681.00. Following the completion of the sale, the chairman now owns 471,228 shares in the company, valued at $20,262,804. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott C. Morrison sold 25,000 shares of the stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $44.40, for a total value of $1,110,000.00. Following the sale, the vice president now owns 30,392 shares of the company’s stock, valued at approximately $1,349,404.80. The disclosure for this sale can be found here. Insiders sold 145,213 shares of company stock worth $6,434,505 in the last ninety days. Corporate insiders own 2.70% of the company’s stock.
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Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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