Isthmus Partners LLC Increases Position in Ball Co. (NYSE:BLL)

Isthmus Partners LLC boosted its holdings in shares of Ball Co. (NYSE:BLL) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,408 shares of the industrial products company’s stock after acquiring an additional 1,448 shares during the period. Ball accounts for approximately 1.6% of Isthmus Partners LLC’s investment portfolio, making the stock its 27th biggest position. Isthmus Partners LLC’s holdings in Ball were worth $9,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Allred Capital Management LLC acquired a new position in Ball in the 1st quarter valued at about $27,000. CSat Investment Advisory L.P. boosted its holdings in Ball by 66.7% in the 1st quarter. CSat Investment Advisory L.P. now owns 350 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 140 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ball in the 2nd quarter valued at about $30,000. Clean Yield Group acquired a new position in Ball in the 2nd quarter valued at about $36,000. Finally, Close Asset Management Ltd boosted its holdings in Ball by 125.0% in the 2nd quarter. Close Asset Management Ltd now owns 450 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 250 shares during the last quarter. 80.59% of the stock is owned by institutional investors.

NYSE:BLL traded up $0.49 during trading hours on Wednesday, reaching $93.14. 13,185 shares of the company’s stock were exchanged, compared to its average volume of 1,983,527. The firm has a market capitalization of $30.42 billion, a price-to-earnings ratio of 35.50, a P/E/G ratio of 5.35 and a beta of 0.47. The company has a 50-day moving average of $88.53 and a 200 day moving average of $86.75. The company has a quick ratio of 0.60, a current ratio of 0.85 and a debt-to-equity ratio of 1.88. Ball Co. has a 1-year low of $77.95 and a 1-year high of $102.76.

Ball (NYSE:BLL) last issued its quarterly earnings results on Thursday, August 5th. The industrial products company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.22 billion. Ball had a net margin of 6.81% and a return on equity of 32.37%. Ball’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Research analysts forecast that Ball Co. will post 3.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, August 31st. This is a boost from Ball’s previous quarterly dividend of $0.15. Ball’s dividend payout ratio (DPR) is 26.94%.

In other news, Director Pedro Henrique Mariani bought 3,000 shares of Ball stock in a transaction dated Wednesday, August 25th. The stock was bought at an average price of $94.56 per share, for a total transaction of $283,680.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lisa Ann Pauley sold 17,773 shares of the firm’s stock in a transaction dated Wednesday, August 11th. The shares were sold at an average price of $88.95, for a total transaction of $1,580,908.35. The disclosure for this sale can be found here. Insiders bought a total of 11,200 shares of company stock valued at $1,020,152 in the last 90 days. Company insiders own 1.60% of the company’s stock.

BLL has been the topic of several recent analyst reports. Truist began coverage on shares of Ball in a report on Monday. They issued a “hold” rating and a $102.00 price objective on the stock. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Ball from a “buy” rating to a “hold” rating and set a $102.00 target price on the stock. in a research note on Thursday, September 2nd. Northland Securities began coverage on shares of Ball in a research note on Tuesday, June 29th. They set a “buy” rating and a $113.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Ball from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Monday, August 9th. Finally, Longbow Research began coverage on shares of Ball in a research report on Thursday, May 20th. They issued a “buy” rating and a $116.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Ball has an average rating of “Buy” and a consensus price target of $101.17.

Ball Profile

Ball Corp. provides metal packaging for beverages, foods and household products. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; and Aerospace. The Beverage Packaging, North and Central America segment sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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