American International Group Inc. Buys 6,231 Shares of Ball Co. (BLL)

American International Group Inc. boosted its stake in Ball Co. (NYSE:BLL) by 5.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 130,888 shares of the industrial products company’s stock after buying an additional 6,231 shares during the quarter. American International Group Inc.’s holdings in Ball were worth $5,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Twin Tree Management LP bought a new position in shares of Ball during the third quarter worth about $2,830,000. Janus Henderson Group PLC lifted its holdings in Ball by 3.0% in the third quarter. Janus Henderson Group PLC now owns 8,834,258 shares of the industrial products company’s stock worth $388,620,000 after acquiring an additional 257,164 shares during the last quarter. Rational Advisors LLC lifted its holdings in Ball by 1,594.6% in the third quarter. Rational Advisors LLC now owns 33,384 shares of the industrial products company’s stock worth $1,469,000 after acquiring an additional 31,414 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Ball by 1.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 137,136 shares of the industrial products company’s stock worth $6,032,000 after acquiring an additional 1,360 shares during the last quarter. Finally, Norinchukin Bank The lifted its holdings in Ball by 11.8% in the third quarter. Norinchukin Bank The now owns 44,233 shares of the industrial products company’s stock worth $1,946,000 after acquiring an additional 4,664 shares during the last quarter. Hedge funds and other institutional investors own 88.48% of the company’s stock.

In other Ball news, VP Charles E. Baker sold 16,647 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $50.50, for a total value of $840,673.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman John A. Hayes sold 96,667 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $43.00, for a total transaction of $4,156,681.00. Following the completion of the sale, the chairman now owns 471,228 shares in the company, valued at approximately $20,262,804. The disclosure for this sale can be found here. Insiders sold 145,213 shares of company stock worth $6,434,505 in the last 90 days. 2.70% of the stock is owned by company insiders.

BLL has been the topic of a number of recent research reports. Barclays raised their target price on shares of Ball from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, August 9th. Bank of America raised their target price on shares of Ball from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, September 24th. Wells Fargo & Co raised their target price on shares of Ball from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 3rd. Robert W. Baird raised their target price on shares of Ball from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $52.00 target price on shares of Ball in a report on Thursday, October 4th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $50.00.

Shares of NYSE:BLL opened at $49.03 on Thursday. Ball Co. has a 52 week low of $34.71 and a 52 week high of $50.98. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 4.10 and a beta of 0.75. 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 (NYSE:BLL) last announced its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.04). Ball had a net margin of 4.21% and a return on equity of 20.02%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the business posted $0.52 EPS. Ball’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Ball Co. will post 2.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a $0.10 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.82%. Ball’s payout ratio is currently 19.61%.

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Ball Company Profile

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.

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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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