Hunter Associates Investment Management LLC continued to hold its stake in Ball Co. (NYSE:BLL) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 6,150 shares of the industrial products company’s stock at the end of the first quarter. Hunter Associates Investment Management LLC’s holdings in Ball were worth $457,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in BLL. Three Peaks Capital Management LLC raised its stake in Ball by 5.1% in the third quarter. Three Peaks Capital Management LLC now owns 149,061 shares of the industrial products company’s stock worth $12,216,000 after buying an additional 7,297 shares during the last quarter. Cigna Investments Inc. New acquired a new stake in Ball during the fourth quarter worth about $475,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Ball during the fourth quarter worth about $425,000. CWM LLC acquired a new stake in Ball during the first quarter worth about $4,529,000. Finally, Capstone Investment Advisors LLC raised its stake in Ball by 21.7% in the fourth quarter. Capstone Investment Advisors LLC now owns 22,012 shares of the industrial products company’s stock worth $1,652,000 after buying an additional 3,921 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.
Ball Co. (NYSE:BLL) traded up 0.74% during trading on Thursday, reaching $40.62. The company’s stock had a trading volume of 597,258 shares. The company has a market cap of $14.26 billion, a P/E ratio of 30.22 and a beta of 0.98. The company’s 50 day moving average price is $69.73 and its 200 day moving average price is $73.82. Ball Co. has a 52 week low of $39.34 and a 52 week high of $82.24.
Ball (NYSE:BLL) last issued its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Ball had a net margin of 2.81% and a return on equity of 18.44%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 40.8% on a year-over-year basis. On average, equities analysts anticipate that Ball Co. will post $2.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Ball’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, May 30th. Ball’s dividend payout ratio is presently 30.23%.
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BLL has been the subject of a number of research analyst reports. Jefferies Group LLC reduced their target price on Ball from $46.50 to $45.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Goldman Sachs Group Inc assumed coverage on Ball in a 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. TheStreet lowered Ball from a “b” rating to a “c+” rating in a report on Thursday, February 2nd. Zacks Investment Research lowered Ball from a “hold” rating to a “sell” rating in a report on Wednesday, February 1st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $39.50 price objective on shares of Ball in a report on Tuesday, March 14th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.23.
In other news, Director R David Hoover sold 5,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $74.07, for a total value of $370,350.00. Following the sale, the director now directly owns 112,462 shares of the company’s stock, valued at approximately $8,330,060.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Heinrich bought 1,750 shares of the company’s stock in a transaction dated Wednesday, March 8th. The stock was purchased at an average cost of $72.27 per share, for a total transaction of $126,472.50. Following the completion of the acquisition, the director now owns 3,373 shares in the company, valued at approximately $243,766.71. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 59,793 shares of company stock worth $3,082,110. 3.50% of the stock is owned by insiders.
Ball Company 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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