Public Sector Pension Investment Board lessened its holdings in shares of Ball Co. (NYSE:BLL) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,360 shares of the industrial products company’s stock after selling 7,430 shares during the quarter. Public Sector Pension Investment Board’s holdings in Ball were worth $3,709,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of BLL. Voya Investment Management LLC raised its stake in Ball by 2.9% during the 3rd quarter. Voya Investment Management LLC now owns 204,013 shares of the industrial products company’s stock worth $14,854,000 after buying an additional 5,700 shares during the period. Voya Financial Advisors Inc. raised its stake in Ball by 88.2% during the 3rd quarter. Voya Financial Advisors Inc. now owns 8,021 shares of the industrial products company’s stock worth $584,000 after buying an additional 3,760 shares during the period. Redpoint Investment Management Pty Ltd raised its stake in Ball by 24.9% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 8,261 shares of the industrial products company’s stock worth $601,000 after buying an additional 1,646 shares during the period. State Street Corp raised its stake in Ball by 2.1% during the 3rd quarter. State Street Corp now owns 14,560,536 shares of the industrial products company’s stock worth $1,060,153,000 after buying an additional 294,229 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Ball during the 3rd quarter worth $1,210,000. 81.94% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on BLL. Robert W. Baird reaffirmed a “buy” rating and set a $85.00 price objective on shares of Ball in a research note on Monday, December 9th. Goldman Sachs Group upgraded Ball from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $77.00 to $68.00 in a report on Monday. Wells Fargo & Co increased their target price on Ball from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Citigroup lowered their target price on Ball from $92.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, ValuEngine upgraded Ball from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $78.34.
Ball (NYSE:BLL) last released its earnings results on Thursday, February 6th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Ball had a return on equity of 25.14% and a net margin of 4.93%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, equities research analysts forecast that Ball Co. will post 2.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, February 28th. Ball’s payout ratio is 23.72%.
In other news, Chairman John A. Hayes sold 17,920 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $71.51, for a total value of $1,281,459.20. Following the completion of the transaction, the chairman now owns 452,190 shares in the company, valued at approximately $32,336,106.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John A. Hayes sold 16,491 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $76.93, for a total value of $1,268,652.63. Following the completion of the transaction, the chairman now owns 502,467 shares of the company’s stock, valued at approximately $38,654,786.31. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
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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