Chicago Capital LLC Takes $211,000 Position in Ball Co. (BLL)

Chicago Capital LLC bought a new position in Ball Co. (NYSE:BLL) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 4,800 shares of the industrial products company’s stock, valued at approximately $211,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in shares of Ball in the 3rd quarter valued at about $114,000. Comerica Bank raised its holdings in shares of Ball by 26.0% in the 3rd quarter. Comerica Bank now owns 102,988 shares of the industrial products company’s stock valued at $4,646,000 after purchasing an additional 21,277 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new stake in shares of Ball in the 3rd quarter valued at about $22,662,000. Portland Hill Asset Management Ltd raised its holdings in shares of Ball by 0.3% in the 3rd quarter. Portland Hill Asset Management Ltd now owns 338,619 shares of the industrial products company’s stock valued at $14,947,000 after purchasing an additional 1,126 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its holdings in shares of Ball by 8.2% in the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 66,526 shares of the industrial products company’s stock valued at $2,926,000 after purchasing an additional 5,043 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Shares of Ball stock opened at $47.86 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.69 and a debt-to-equity ratio of 1.74. Ball Co. has a 52-week low of $34.71 and a 52-week high of $48.47. The company has a market capitalization of $16.29 billion, a PE ratio of 23.46, a PEG ratio of 3.88 and a beta of 0.74.

Ball (NYSE:BLL) last issued its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.04). Ball had a return on equity of 20.02% and a net margin of 4.21%. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the firm earned $0.52 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities research analysts expect that Ball Co. will post 2.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, November 30th. Ball’s payout ratio is currently 19.61%.

In other news, Chairman John A. Hayes sold 96,667 shares of Ball stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $43.00, for a total value of $4,156,681.00. Following the transaction, the chairman now owns 471,228 shares of the company’s stock, valued at approximately $20,262,804. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott C. Morrison sold 25,000 shares of Ball stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $44.40, for a total transaction of $1,110,000.00. Following the completion of the transaction, the vice president now directly owns 30,392 shares in the company, valued at approximately $1,349,404.80. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Several equities research analysts have recently commented on BLL shares. Citigroup reduced their price target on shares of Ball from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, July 10th. TheStreet upgraded shares of Ball from a “c+” rating to a “b-” rating in a report on Wednesday, August 1st. ValuEngine upgraded shares of Ball from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Royal Bank of Canada restated a “buy” rating and issued a $47.00 price target on shares of Ball in a report on Monday, August 6th. Finally, Zacks Investment Research upgraded shares of Ball from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $50.00.

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About Ball

Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.

Further Reading: Fundamental Analysis and Individual Investors

Want to see what other hedge funds are holding BLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ball Co. (NYSE:BLL).

Institutional Ownership by Quarter for Ball (NYSE:BLL)

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