PNC Financial Services Group Inc. lessened its stake in Ball Co. (NYSE:BLL) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,382 shares of the industrial products company’s stock after selling 1,358 shares during the period. PNC Financial Services Group Inc. owned 0.05% of Ball worth $11,211,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of BLL. Wealth Quarterback LLC bought a new position in Ball in the 4th quarter worth approximately $5,849,811,000. Norges Bank bought a new position in Ball in the 4th quarter worth approximately $190,949,000. FIL Ltd raised its position in Ball by 367.8% in the 4th quarter. FIL Ltd now owns 959,774 shares of the industrial products company’s stock worth $62,069,000 after purchasing an additional 754,628 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Ball in the 4th quarter worth approximately $38,261,000. Finally, Jackson Square Partners LLC raised its position in Ball by 5.3% in the 4th quarter. Jackson Square Partners LLC now owns 10,463,702 shares of the industrial products company’s stock worth $676,687,000 after purchasing an additional 524,374 shares during the last quarter. Hedge funds and other institutional investors own 79.75% of the company’s stock.
BLL has been the subject of several research analyst reports. Northland Securities restated a “buy” rating and issued a $80.00 price objective on shares of Ball in a research report on Monday, May 11th. KeyCorp restated a “hold” rating on shares of Ball in a research report on Thursday, May 7th. JPMorgan Chase & Co. lowered their target price on shares of Ball from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Wells Fargo & Co lowered their target price on shares of Ball from $75.00 to $72.00 and set an “equal weight” rating for the company in a report on Friday, April 17th. Finally, Barclays lowered their target price on shares of Ball from $82.00 to $72.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ball has a consensus rating of “Buy” and a consensus price target of $79.70.
Shares of BLL stock opened at $64.04 on Friday. Ball Co. has a 12-month low of $51.26 and a 12-month high of $82.82. The firm has a market capitalization of $20.88 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 4.81 and a beta of 0.49. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 2.77. The firm has a fifty day moving average of $65.74 and a 200-day moving average of $67.52.
Ball (NYSE:BLL) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Ball had a net margin of 4.11% and a return on equity of 28.11%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The firm’s revenue was up .0% on a year-over-year basis. Research analysts expect that Ball Co. will post 2.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, May 29th. Ball’s dividend payout ratio (DPR) is 23.72%.
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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