RS Investment Management Co. LLC increased its position in Ball Corp. (NYSE:BLL) by 48.8% during the second quarter, Holdings Channel reports. The firm owned 441,617 shares of the company’s stock after buying an additional 144,870 shares during the period. RS Investment Management Co. LLC’s holdings in Ball Corp. were worth $31,924,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Teachers Advisors Inc. increased its position in Ball Corp. by 2.0% in the first quarter. Teachers Advisors Inc. now owns 154,128 shares of the company’s stock valued at $10,988,000 after buying an additional 3,037 shares during the last quarter. Addenda Capital Inc. increased its position in Ball Corp. by 2.4% in the first quarter. Addenda Capital Inc. now owns 17,486 shares of the company’s stock valued at $1,073,000 after buying an additional 407 shares during the last quarter. Three Peaks Capital Management LLC increased its position in Ball Corp. by 76.5% in the first quarter. Three Peaks Capital Management LLC now owns 135,973 shares of the company’s stock valued at $9,694,000 after buying an additional 58,937 shares during the last quarter. Virginia Retirement System acquired a new position in Ball Corp. during the first quarter valued at approximately $834,000. Finally, Commonwealth Equity Services Inc increased its position in Ball Corp. by 13.0% in the first quarter. Commonwealth Equity Services Inc now owns 3,580 shares of the company’s stock valued at $255,000 after buying an additional 411 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.
Ball Corp. (NYSE:BLL) traded up 0.76% during midday trading on Thursday, hitting $79.69. 924,236 shares of the company traded hands. The stock’s 50-day moving average price is $79.50 and its 200 day moving average price is $73.54. Ball Corp. has a 12-month low of $60.30 and a 12-month high of $81.25. The company has a market capitalization of $13.88 billion, a price-to-earnings ratio of 36.72 and a beta of 1.11.
Ball Corp. (NYSE:BLL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. Ball Corp. had a net margin of 4.45% and a return on equity of 27.28%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the firm posted $0.89 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, equities analysts forecast that Ball Corp. will post $3.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.65%. Ball Corp.’s dividend payout ratio is presently 22.13%.
Several research firms have commented on BLL. JPMorgan Chase & Co. reissued a “buy” rating on shares of Ball Corp. in a research report on Saturday, July 9th. Vertical Group downgraded shares of Ball Corp. to a “hold” rating in a research report on Friday, August 5th. Vertical Research downgraded shares of Ball Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Jefferies Group increased their target price on shares of Ball Corp. from $86.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Barclays PLC began coverage on shares of Ball Corp. in a research report on Thursday, July 14th. They set an “equal weight” rating and a $75.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $82.57.
In other news, VP Shawn M. Barker sold 16,000 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $80.34, for a total transaction of $1,285,440.00. Following the transaction, the vice president now directly owns 3,397 shares in the company, valued at approximately $272,914.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John A. Hayes acquired 2,400 shares of the stock in a transaction dated Monday, August 8th. The shares were purchased at an average price of $79.31 per share, for a total transaction of $190,344.00. Following the completion of the purchase, the chairman now directly owns 178,620 shares in the company, valued at $14,166,352.20. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.
About Ball Corp.
Ball Corporation (Ball) is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. The Company operates in four segments: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies.
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