King Luther Capital Management Corp trimmed its stake in Ball Co. (NYSE:BLL) by 1.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,449,704 shares of the industrial products company’s stock after selling 21,805 shares during the quarter. King Luther Capital Management Corp owned approximately 0.41% of Ball worth $59,873,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. US Bancorp DE boosted its position in shares of Ball by 153.1% in the second quarter. US Bancorp DE now owns 15,426 shares of the industrial products company’s stock worth $652,000 after buying an additional 9,331 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Ball by 79.1% in the second quarter. Russell Investments Group Ltd. now owns 51,570 shares of the industrial products company’s stock worth $2,177,000 after buying an additional 22,783 shares during the period. Strs Ohio boosted its position in shares of Ball by 56.2% in the second quarter. Strs Ohio now owns 27,092 shares of the industrial products company’s stock worth $1,143,000 after buying an additional 9,746 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of Ball by 100.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 56,702 shares of the industrial products company’s stock worth $2,393,000 after buying an additional 28,376 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in Ball by 100.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 11,080 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 5,540 shares during the last quarter. Institutional investors and hedge funds own 89.40% of the company’s stock.
A number of analysts recently issued reports on the company. BMO Capital Markets raised Ball from a “market perform” rating to an “outperform” rating in a research report on Monday. Robert W. Baird lifted their price objective on Ball from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. KeyCorp reissued a “hold” rating on shares of Ball in a research report on Thursday, November 2nd. UBS assumed coverage on Ball in a report on Monday, October 23rd. They set a “buy” rating and a $50.00 target price on the stock. Finally, Zacks Investment Research lowered Ball from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $44.88.
Ball Co. (BLL) opened at $40.65 on Tuesday. Ball Co. has a 12 month low of $35.65 and a 12 month high of $43.24. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.66 and a current ratio of 1.04. The stock has a market capitalization of $14,230.00, a PE ratio of 21.31, a P/E/G ratio of 3.71 and a beta of 0.97.
Ball (NYSE:BLL) last issued its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.07). The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.91 billion. Ball had a net margin of 2.13% and a return on equity of 18.31%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. equities analysts anticipate that Ball Co. will post 1.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 30th. Ball’s payout ratio is 54.05%.
In other Ball news, VP Jeff A. Knobel sold 5,218 shares of Ball stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $40.12, for a total transaction of $209,346.16. Following the sale, the vice president now directly owns 68,138 shares of the company’s stock, valued at $2,733,696.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lisa Ann Pauley sold 17,090 shares of Ball stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $40.79, for a total value of $697,101.10. Following the sale, the senior vice president now directly owns 108,923 shares in the company, valued at $4,442,969.17. The disclosure for this sale can be found here. Insiders have sold 39,167 shares of company stock worth $1,597,782 over the last ninety days. Company insiders own 2.70% of the company’s stock.
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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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