Victory Capital Management Inc. increased its stake in Ball Co. (NYSE:BLL) by 21.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,115,944 shares of the industrial products company’s stock after buying an additional 194,512 shares during the period. Victory Capital Management Inc. owned about 0.64% of Ball worth $82,870,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of BLL. Price T Rowe Associates Inc. MD increased its stake in Ball by 28.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 15,125,555 shares of the industrial products company’s stock valued at $1,239,539,000 after buying an additional 3,314,765 shares during the last quarter. Norges Bank bought a new stake in Ball during the fourth quarter valued at approximately $103,532,000. JPMorgan Chase & Co. increased its stake in Ball by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 7,054,566 shares of the industrial products company’s stock valued at $523,873,000 after buying an additional 962,025 shares during the last quarter. Iridian Asset Management LLC CT bought a new stake in Ball during the first quarter valued at approximately $69,447,000. Finally, State Street Corp increased its stake in Ball by 8.0% in the fourth quarter. State Street Corp now owns 7,388,368 shares of the industrial products company’s stock valued at $554,660,000 after buying an additional 547,365 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.
Ball Co. (NYSE:BLL) traded down 0.07% on Friday, reaching $40.69. 1,557,986 shares of the company’s stock were exchanged. The company has a market capitalization of $14.29 billion, a P/E ratio of 30.28 and a beta of 0.98. Ball Co. has a 1-year low of $39.34 and a 1-year high of $82.24. The firm has a 50-day moving average price of $68.82 and a 200-day moving average price of $73.58.
Ball (NYSE:BLL) last issued its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.38 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business earned $0.30 EPS. Ball’s quarterly revenue was up 40.8% compared to the same quarter last year. Equities research analysts expect that Ball Co. will post $2.15 earnings per share for the current 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 paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Tuesday, May 30th. This is a boost from Ball’s previous quarterly dividend of $0.07. Ball’s dividend payout ratio (DPR) is 30.23%.
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Several equities research analysts have recently commented on BLL shares. TheStreet downgraded shares of Ball from a “b” rating to a “c+” rating in a research note on Thursday, February 2nd. KeyCorp restated a “hold” rating on shares of Ball in a research report on Monday, February 6th. Zacks Investment Research downgraded shares of Ball from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Vertical Research upgraded shares of Ball from a “hold” rating to a “buy” rating in a research report on Friday, February 3rd. Finally, Goldman Sachs Group Inc began coverage on shares of Ball in a research report on Thursday, March 2nd. They set a “neutral” rating and a $40.00 target price for the company. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $42.23.
In other news, Director R David Hoover sold 8,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $40.02, for a total value of $320,160.00. Following the completion of the sale, the director now owns 175,260 shares in the company, valued at approximately $7,013,905.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Heinrich bought 1,750 shares of Ball stock in a transaction dated Wednesday, March 8th. The stock was purchased at an average price of $72.27 per share, with a total value of $126,472.50. Following the purchase, the director now directly owns 3,373 shares in the company, valued at approximately $243,766.71. The disclosure for this purchase can be found here. Insiders sold a total of 59,793 shares of company stock valued at $3,082,110 in the last 90 days. Company insiders own 3.50% of the company’s stock.
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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