New York State Teachers Retirement System lowered its position in Ball Co. (NYSE:BLL) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 465,585 shares of the industrial products company’s stock after selling 10,488 shares during the period. New York State Teachers Retirement System owned 0.14% of Ball worth $32,586,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in BLL. Oakbrook Investments LLC bought a new stake in shares of Ball in the 2nd quarter worth $406,000. Capital Investment Advisors LLC purchased a new position in shares of Ball in the 2nd quarter worth $120,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Ball by 13.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 115,785 shares of the industrial products company’s stock worth $8,104,000 after buying an additional 14,100 shares during the last quarter. Larson Financial Group LLC purchased a new position in shares of Ball in the 2nd quarter worth $56,000. Finally, NEXT Financial Group Inc boosted its stake in shares of Ball by 15.5% in the 2nd quarter. NEXT Financial Group Inc now owns 4,188 shares of the industrial products company’s stock worth $293,000 after buying an additional 563 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.
In other news, Chairman John A. Hayes sold 9,523 shares of Ball stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $70.98, for a total value of $675,942.54. Following the sale, the chairman now directly owns 437,979 shares of the company’s stock, valued at $31,087,749.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott C. Morrison sold 2,897 shares of Ball stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $63.06, for a total value of $182,684.82. Following the completion of the sale, the vice president now directly owns 441,271 shares in the company, valued at $27,826,549.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,078 shares of company stock worth $2,746,288. Insiders own 1.80% of the company’s stock.
NYSE BLL traded up $0.67 on Tuesday, hitting $71.78. 972,877 shares of the company traded hands, compared to its average volume of 2,461,235. The firm has a market cap of $23.67 billion, a P/E ratio of 32.63, a price-to-earnings-growth ratio of 4.95 and a beta of 0.80. The company has a quick ratio of 0.77, a current ratio of 1.09 and a debt-to-equity ratio of 1.84. The business has a 50 day simple moving average of $68.29. Ball Co. has a 52-week low of $37.42 and a 52-week high of $72.34.
Ball (NYSE:BLL) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Ball had a net margin of 3.83% and a return on equity of 20.39%. Ball’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, analysts anticipate that Ball Co. will post 2.6 EPS for the current year.
A number of equities analysts have recently issued reports on BLL shares. Vertical Research downgraded Ball from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Morgan Stanley restated a “top pick” rating on shares of in a research note on Wednesday, June 5th. KeyCorp restated a “hold” rating on shares of Ball in a research note on Thursday, May 2nd. BMO Capital Markets restated a “hold” rating on shares of Snc-Lavalin Group in a research note on Monday, April 8th. Finally, Citigroup raised their price target on Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $58.01.
Ball Company Profile
Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
Further Reading: Closed-End Mutual Funds (CEFs)
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