Conning Inc. boosted its stake in shares of Ball Corp. (NYSE:BLL) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,364 shares of the company’s stock after buying an additional 10 shares during the period. Conning Inc.’s holdings in Ball Corp. were worth $243,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the stock. Investec Asset Management LTD purchased a new position in shares of Ball Corp. during the first quarter valued at approximately $217,000. Daiwa Securities Group Inc. raised its position in shares of Ball Corp. by 10.0% in the second quarter. Daiwa Securities Group Inc. now owns 3,300 shares of the company’s stock valued at $239,000 after buying an additional 300 shares during the period. Cleararc Capital Inc. raised its position in shares of Ball Corp. by 4.3% in the first quarter. Cleararc Capital Inc. now owns 3,468 shares of the company’s stock valued at $247,000 after buying an additional 142 shares during the period. Commonwealth Equity Services Inc raised its position in shares of 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 period. Finally, Carnick & Kubik LLC raised its position in shares of Ball Corp. by 2.4% in the first quarter. Carnick & Kubik LLC now owns 4,312 shares of the company’s stock valued at $307,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 77.68% of the company’s stock.
Ball Corp. (NYSE:BLL) traded up 0.19% during midday trading on Thursday, reaching $79.55. The company’s stock had a trading volume of 836,463 shares. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of 36.66 and a beta of 1.02. Ball Corp. has a 12-month low of $62.30 and a 12-month high of $82.24. The company’s 50-day moving average is $79.51 and its 200 day moving average is $74.35.
Ball Corp. (NYSE:BLL) last issued its earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.06. Ball Corp. had a return on equity of 27.28% and a net margin of 4.45%. 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 earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year. Equities analysts forecast that Ball Corp. will post $3.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.13 dividend. 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 (DPR) is 22.13%.
Several equities analysts have recently commented on the company. Citigroup Inc. assumed coverage on Ball Corp. in a research report on Friday, July 29th. They set a “neutral” rating and a $77.00 price objective on the stock. Jefferies Group reiterated a “buy” rating on shares of Ball Corp. in a research report on Friday, June 10th. Bank of America Corp. reiterated a “buy” rating and set a $90.00 price objective on shares of Ball Corp. in a research report on Thursday, September 29th. Vertical Group cut Ball Corp. to a “hold” rating in a report on Friday, August 5th. Finally, Robert W. Baird restated an “outperform” rating and set a $85.00 target price on shares of Ball Corp. in a report on Sunday, August 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $85.43.
In other news, Director Robert W. Alspaugh bought 3,000 shares of Ball Corp. stock in a transaction dated Monday, August 8th. The shares were purchased at an average cost of $79.27 per share, with a total value of $237,810.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $39,635. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Erik Bouts bought 10,000 shares of Ball Corp. stock in a transaction dated Monday, August 8th. The stock was purchased at an average cost of $79.41 per share, for a total transaction of $794,100.00. Following the completion of the acquisition, the chief operating officer now directly owns 5,988 shares of the company’s stock, valued at approximately $475,507.08. The disclosure for this purchase can be found here. 3.50% of the stock is owned by insiders.
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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