Lord Abbett & CO. LLC decreased its holdings in Ball Co. (NYSE:BLL) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,368 shares of the industrial products company’s stock after selling 14,621 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Ball were worth $15,958,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Ball by 6.7% in the 3rd quarter. BlackRock Inc. now owns 25,698,461 shares of the industrial products company’s stock valued at $2,312,091,000 after purchasing an additional 1,605,959 shares during the last quarter. State Street Corp increased its stake in Ball by 5.5% in the 2nd quarter. State Street Corp now owns 15,028,931 shares of the industrial products company’s stock valued at $1,217,644,000 after buying an additional 787,825 shares during the period. Geode Capital Management LLC increased its stake in Ball by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 5,900,748 shares of the industrial products company’s stock valued at $476,775,000 after buying an additional 133,209 shares during the period. Goldman Sachs Group Inc. increased its stake in Ball by 7.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,263,302 shares of the industrial products company’s stock valued at $426,433,000 after buying an additional 361,493 shares during the period. Finally, Chilton Investment Co. LLC increased its stake in Ball by 0.3% in the 3rd quarter. Chilton Investment Co. LLC now owns 3,510,448 shares of the industrial products company’s stock valued at $315,835,000 after buying an additional 10,320 shares during the period. Hedge funds and other institutional investors own 83.63% of the company’s stock.
In related news, President Daniel William Fisher acquired 7,000 shares of the business’s stock in a transaction dated Wednesday, November 24th. The shares were acquired at an average cost of $93.89 per share, for a total transaction of $657,230.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Ronald J. Lewis purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 9th. The stock was acquired at an average price of $91.26 per share, for a total transaction of $912,600.00. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by corporate insiders.
Ball (NYSE:BLL) last issued its quarterly earnings data on Thursday, November 4th. The industrial products company reported $0.94 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.04). The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.52 billion. Ball had a net margin of 6.10% and a return on equity of 30.98%. Ball’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. As a group, research analysts expect that Ball Co. will post 3.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were issued a $0.20 dividend. The ex-dividend date was Tuesday, November 30th. This represents a $0.80 dividend on an annualized basis and a yield of 0.88%. Ball’s dividend payout ratio (DPR) is 32.92%.
Several brokerages have issued reports on BLL. Barclays boosted their price objective on shares of Ball from $95.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, September 20th. Bank of America cut shares of Ball from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $101.00 to $95.00 in a research note on Thursday, October 14th. Truist Securities boosted their price objective on shares of Ball from $100.00 to $105.00 in a research note on Wednesday. Truist upped their price target on shares of Ball from $100.00 to $105.00 in a research note on Wednesday. Finally, Citigroup cut shares of Ball from a “buy” rating to a “neutral” rating and set a $105.00 price target on the stock. in a research note on Tuesday, January 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ball currently has an average rating of “Hold” and a consensus price target of $100.82.
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.
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