Fic Capital Inc. cut its stake in shares of Ball Corporation (NYSE:BLL) by 8.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 41,703 shares of the industrial products company’s stock after selling 3,877 shares during the period. Ball Corporation comprises 1.4% of Fic Capital Inc.’s investment portfolio, making the stock its 27th largest position. Fic Capital Inc.’s holdings in Ball Corporation were worth $3,097,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in BLL. Baird Financial Group Inc. purchased a new position in shares of Ball Corporation during the first quarter valued at approximately $201,000. Geode Capital Management LLC raised its position in shares of Ball Corporation by 9.4% in the first quarter. Geode Capital Management LLC now owns 1,637,759 shares of the industrial products company’s stock valued at $121,443,000 after buying an additional 140,259 shares in the last quarter. Credit Agricole S A raised its position in shares of Ball Corporation by 17.4% in the first quarter. Credit Agricole S A now owns 103,163 shares of the industrial products company’s stock valued at $7,662,000 after buying an additional 15,280 shares in the last quarter. CWM LLC purchased a new position in shares of Ball Corporation during the first quarter valued at approximately $4,529,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Ball Corporation during the fourth quarter valued at approximately $425,000. Institutional investors and hedge funds own 43.30% of the company’s stock.
Ball Corporation (BLL) traded up 1.77% during midday trading on Monday, hitting $41.89. The company’s stock had a trading volume of 2,167,883 shares. The company’s 50-day moving average is $54.97 and its 200 day moving average is $69.66. Ball Corporation has a one year low of $33.76 and a one year high of $41.99. The company has a market cap of $14.71 billion, a price-to-earnings ratio of 31.17 and a beta of 0.95.
Ball Corporation (NYSE:BLL) last issued its earnings results on Thursday, May 4th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.41 billion. Ball Corporation had a return on equity of 16.46% and a net margin of 4.59%. The company’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. On average, analysts predict that Ball Corporation will post $2.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from Ball Corporation’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, May 30th. Ball Corporation’s dividend payout ratio is 26.67%.
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Several equities analysts have commented on BLL shares. Goldman Sachs Group, Inc. (The) assumed coverage on Ball Corporation in a research report on Thursday, March 2nd. They set a “neutral” rating and a $40.00 price objective for the company. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and issued a $39.50 price target on shares of Ball Corporation in a research report on Tuesday, March 14th. Zacks Investment Research lowered Ball Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Jefferies Group LLC lifted their price target on Ball Corporation from $45.00 to $47.50 and gave the stock a “buy” rating in a research report on Monday, May 15th. Finally, Vertical Research lowered Ball Corporation from a “buy” rating to a “hold” rating and set a $41.50 price target for the company. in a research report on Friday, May 5th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $42.23.
In other news, Director R David Hoover sold 22,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $39.75, for a total transaction of $874,500.00. Following the completion of the transaction, the director now directly owns 205,260 shares of the company’s stock, valued at approximately $8,159,085. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Lisa Ann Pauley sold 20,960 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $41.48, for a total value of $869,420.80. Following the transaction, the senior vice president now directly owns 108,887 shares of the company’s stock, valued at $4,516,632.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,952 shares of company stock valued at $3,188,747. Company insiders own 2.70% of the company’s stock.
About Ball Corporation
Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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