Cambridge Investment Research Advisors Inc. bought a new position in shares of Ball Corporation (NYSE:BLL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,206 shares of the industrial products company’s stock, valued at approximately $684,000.
A number of other institutional investors have also bought and sold shares of BLL. BlackRock Inc. grew its position in Ball Corporation by 2,907.6% during the first quarter. BlackRock Inc. now owns 10,298,454 shares of the industrial products company’s stock worth $764,763,000 after buying an additional 9,956,034 shares in the last quarter. Iridian Asset Management LLC CT grew its position in Ball Corporation by 569.1% during the second quarter. Iridian Asset Management LLC CT now owns 6,257,810 shares of the industrial products company’s stock worth $264,142,000 after buying an additional 5,322,617 shares in the last quarter. William Blair Investment Management LLC grew its position in Ball Corporation by 118.9% during the second quarter. William Blair Investment Management LLC now owns 7,644,161 shares of the industrial products company’s stock worth $322,660,000 after buying an additional 4,151,548 shares in the last quarter. Bessemer Group Inc. grew its position in Ball Corporation by 754,449.4% during the second quarter. Bessemer Group Inc. now owns 3,418,109 shares of the industrial products company’s stock worth $144,279,000 after buying an additional 3,417,656 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in Ball Corporation during the second quarter worth about $110,705,000. Institutional investors and hedge funds own 86.36% of the company’s stock.
Several equities analysts recently commented on BLL shares. Vertical Group restated a “hold” rating and set a $43.00 target price (up from $41.50) on shares of Ball Corporation in a research report on Wednesday, August 9th. Deutsche Bank AG restated a “buy” rating and set a $47.00 target price (up from $44.00) on shares of Ball Corporation in a research report on Tuesday, July 18th. BidaskClub cut Ball Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Barclays PLC boosted their target price on Ball Corporation from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Finally, Jefferies Group LLC restated a “buy” rating and set a $50.00 target price (up from $47.00) on shares of Ball Corporation in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Ball Corporation presently has an average rating of “Hold” and an average price target of $44.05.
In other news, Chairman John A. Hayes sold 5,683 shares of the firm’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $42.23, for a total transaction of $239,993.09. Following the completion of the transaction, the chairman now owns 407,562 shares in the company, valued at $17,211,343.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Lisa Ann Pauley sold 39,241 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $39.10, for a total value of $1,534,323.10. Following the transaction, the senior vice president now owns 108,905 shares of the company’s stock, valued at approximately $4,258,185.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,067 shares of company stock valued at $5,301,131. Company insiders own 2.70% of the company’s stock.
Shares of Ball Corporation (NYSE:BLL) opened at 40.28 on Friday. The firm’s 50-day moving average price is $40.63 and its 200 day moving average price is $39.51. Ball Corporation has a 52 week low of $35.65 and a 52 week high of $43.06. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 57.13 and a beta of 0.96.
Ball Corporation (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. On average, equities research analysts forecast that Ball Corporation will post $2.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.99%. Ball Corporation’s payout ratio is 78.43%.
Ball Corporation Profile
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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