E Fund Management Co. Ltd. purchased a new stake in shares of Ball Co. (NYSE:BLL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 576 shares of the industrial products company’s stock, valued at approximately $49,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Allred Capital Management LLC acquired a new position in shares of Ball during the first quarter valued at $27,000. Neo Ivy Capital Management acquired a new position in shares of Ball during the fourth quarter valued at $31,000. Ellevest Inc. lifted its stake in shares of Ball by 358.0% during the fourth quarter. Ellevest Inc. now owns 371 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 290 shares during the period. Graves Light Private Wealth Management Inc. acquired a new position in shares of Ball during the fourth quarter valued at $37,000. Finally, Vantage Consulting Group Inc acquired a new position in shares of Ball during the fourth quarter valued at $39,000. 80.98% of the stock is currently owned by institutional investors and hedge funds.
BLL has been the topic of a number of research analyst reports. BMO Capital Markets lowered Ball from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $107.00 to $87.00 in a research report on Wednesday, May 26th. Longbow Research initiated coverage on Ball in a research report on Thursday, May 20th. They set a “buy” rating and a $116.00 price target on the stock. Jefferies Financial Group raised their price target on Ball from $93.00 to $96.00 and gave the stock a “hold” rating in a research report on Thursday, April 15th. Finally, The Goldman Sachs Group initiated coverage on Ball in a research report on Friday, April 9th. They set a “buy” rating and a $98.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $100.63.
Ball (NYSE:BLL) last posted its quarterly earnings results on Thursday, May 6th. The industrial products company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. Ball had a return on equity of 32.35% and a net margin of 6.29%. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. On average, equities analysts forecast that Ball Co. will post 3.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be given a $0.15 dividend. The ex-dividend date is Friday, May 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.75%. Ball’s payout ratio is 20.20%.
In other news, VP Scott C. Morrison sold 8,653 shares of the firm’s stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $82.50, for a total value of $713,872.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.
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.
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