Edgestream Partners L.P. Reduces Stock Holdings in Ball Co. (NYSE:BLL)

Edgestream Partners L.P. decreased its position in Ball Co. (NYSE:BLL) by 29.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,224 shares of the industrial products company’s stock after selling 18,898 shares during the period. Edgestream Partners L.P.’s holdings in Ball were worth $3,583,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Ball by 0.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,013 shares of the industrial products company’s stock valued at $3,475,000 after purchasing an additional 140 shares during the last quarter. CSat Investment Advisory L.P. lifted its position in shares of Ball by 66.7% during the first quarter. CSat Investment Advisory L.P. now owns 350 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 140 shares in the last quarter. IndexIQ Advisors LLC lifted its position in shares of Ball by 3.4% during the second quarter. IndexIQ Advisors LLC now owns 5,381 shares of the industrial products company’s stock worth $436,000 after acquiring an additional 175 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Ball by 1.5% during the first quarter. 180 Wealth Advisors LLC now owns 12,843 shares of the industrial products company’s stock worth $1,115,000 after acquiring an additional 191 shares in the last quarter. Finally, Ethic Inc. lifted its position in shares of Ball by 9.2% during the first quarter. Ethic Inc. now owns 2,430 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 80.59% of the company’s stock.

In other Ball news, EVP Lisa Ann Pauley sold 17,773 shares of the firm’s stock in a transaction dated Wednesday, August 11th. The shares were sold at an average price of $88.95, for a total value of $1,580,908.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pedro Henrique Mariani acquired 3,000 shares of the stock in a transaction on Wednesday, August 25th. The stock was bought at an average price of $94.56 per share, with a total value of $283,680.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 11,200 shares of company stock valued at $1,020,152. Company insiders own 1.60% of the company’s stock.

Several equities research analysts have issued reports on BLL shares. Robert W. Baird restated a “hold” rating and set a $85.00 target price on shares of Ball in a research report on Friday, August 6th. Northland Securities started coverage on shares of Ball in a report on Tuesday, June 29th. They issued a “buy” rating and a $113.00 price target on the stock. Truist Securities started coverage on shares of Ball in a report on Tuesday. They issued a “hold” rating and a $102.00 price target on the stock. Atlantic Securities raised shares of Ball from a “neutral” rating to an “overweight” rating and set a $101.00 price target on the stock in a report on Tuesday, June 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Ball from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday, August 9th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $101.17.

NYSE BLL opened at $92.65 on Wednesday. The company has a 50-day simple moving average of $88.53 and a two-hundred day simple moving average of $86.75. The company has a quick ratio of 0.60, a current ratio of 0.85 and a debt-to-equity ratio of 1.88. Ball Co. has a 12-month low of $77.95 and a 12-month high of $102.76. The firm has a market cap of $30.26 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 5.35 and a beta of 0.47.

Ball (NYSE:BLL) last posted its quarterly earnings results on Thursday, August 5th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. Ball had a net margin of 6.81% and a return on equity of 32.37%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. Equities analysts expect that Ball Co. will post 3.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.86%. This is a positive change from Ball’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, August 31st. Ball’s dividend payout ratio is presently 26.94%.

Ball Company Profile

Ball Corp. provides metal packaging for beverages, foods and household products. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; and Aerospace. The Beverage Packaging, North and Central America segment sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

Featured Story: What is dividend yield?

Want to see what other hedge funds are holding BLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ball Co. (NYSE:BLL).

Institutional Ownership by Quarter for Ball (NYSE:BLL)

Receive News & Ratings for Ball Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ball and related companies with MarketBeat.com's FREE daily email newsletter.