Ball Co. (NYSE:BLL) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in Ball Co. (NYSE:BLL) by 19.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 106,508 shares of the industrial products company’s stock after buying an additional 17,512 shares during the period. Teacher Retirement System of Texas’ holdings in Ball were worth $9,025,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BLL. Norges Bank purchased a new position in shares of Ball in the 4th quarter worth about $272,441,000. Sustainable Growth Advisers LP grew its stake in Ball by 27.5% during the first quarter. Sustainable Growth Advisers LP now owns 4,598,125 shares of the industrial products company’s stock worth $389,645,000 after buying an additional 991,966 shares during the period. BlackRock Inc. increased its position in shares of Ball by 3.4% in the fourth quarter. BlackRock Inc. now owns 25,915,195 shares of the industrial products company’s stock worth $2,414,778,000 after acquiring an additional 847,276 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new position in shares of Ball in the 4th quarter valued at $71,938,000. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Ball by 38.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,025,637 shares of the industrial products company’s stock valued at $188,749,000 after acquiring an additional 560,783 shares in the last quarter. Hedge funds and other institutional investors own 80.98% of the company’s stock.

In other Ball news, VP Scott C. Morrison sold 8,653 shares of Ball stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $82.50, for a total value of $713,872.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group started coverage on Ball in a research report on Friday, April 9th. They issued a “buy” rating and a $98.00 target price for the company. Jefferies Financial Group upped their target price on shares of Ball from $93.00 to $96.00 and gave the company a “hold” rating in a research note on Thursday, April 15th. BMO Capital Markets downgraded shares of Ball from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $107.00 to $87.00 in a research note on Wednesday, May 26th. Finally, Longbow Research assumed coverage on shares of Ball in a research report on Thursday, May 20th. They issued a “buy” rating and a $116.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Ball presently has an average rating of “Buy” and a consensus target price of $100.63.

Shares of BLL opened at $80.46 on Friday. Ball Co. has a 52 week low of $66.25 and a 52 week high of $102.76. The company has a current ratio of 0.85, a quick ratio of 0.57 and a debt-to-equity ratio of 1.95. The firm has a market cap of $26.41 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 4.64 and a beta of 0.43. The business has a 50 day moving average price of $88.05.

Ball (NYSE:BLL) last released its quarterly earnings data on Thursday, May 6th. The industrial products company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.09 billion. Ball had a net margin of 6.29% and a return on equity of 32.35%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share. As a group, sell-side analysts forecast that Ball Co. will post 3.51 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, May 28th. Ball’s dividend payout ratio is presently 20.20%.

Ball Profile

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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