PGGM Investments increased its position in shares of Ball Corp. (NYSE:BLL) by 19.4% during the second quarter, Holdings Channel reports. The fund owned 426,552 shares of the company’s stock after buying an additional 69,220 shares during the period. PGGM Investments’ holdings in Ball Corp. were worth $30,835,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Investec Asset Management LTD bought a new stake in shares of Ball Corp. during the first quarter worth $217,000. Daiwa Securities Group Inc. raised its stake 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 worth $239,000 after buying an additional 300 shares during the last quarter. Cleararc Capital Inc. raised its stake 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 worth $247,000 after buying an additional 142 shares during the last quarter. Commonwealth Equity Services Inc raised its stake 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 worth $255,000 after buying an additional 411 shares during the last quarter. Finally, Carnick & Kubik LLC raised its stake 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 worth $307,000 after buying an additional 100 shares during the last quarter. 77.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ball Corp. (NYSE:BLL) traded up 0.66% during mid-day trading on Tuesday, hitting $79.56. 1,139,311 shares of the stock were exchanged. Ball Corp. has a 52-week low of $61.20 and a 52-week high of $81.25. The stock has a 50-day moving average price of $79.50 and a 200 day moving average price of $73.88. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of 36.66 and a beta of 1.11.
Ball Corp. (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Ball Corp. had a net margin of 4.45% and a return on equity of 27.28%. The business’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS. On average, equities research analysts expect that Ball Corp. will post $3.44 earnings per share 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 dividend on an annualized basis and a dividend yield of 0.65%. Ball Corp.’s payout ratio is 22.13%.
A number of research analysts recently issued reports on the stock. Jefferies Group lifted their price target on shares of Ball Corp. from $86.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Citigroup Inc. assumed coverage on shares of Ball Corp. in a research report on Friday, July 29th. They set a “neutral” rating and a $77.00 price target for the company. Vertical Group cut shares of Ball Corp. to a “hold” rating in a research report on Friday, August 5th. Robert W. Baird reissued an “outperform” rating and set a $85.00 price target on shares of Ball Corp. in a research report on Sunday, August 7th. Finally, TheStreet raised shares of Ball Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $82.57.
In other news, Chairman John A. Hayes acquired 2,400 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were acquired at an average price of $79.31 per share, with a total value of $190,344.00. Following the purchase, the chairman now directly owns 178,620 shares of the company’s stock, valued at $14,166,352.20. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Shawn M. Barker sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $80.34, for a total transaction of $1,285,440.00. Following the sale, the vice president now directly owns 3,397 shares in the company, valued at approximately $272,914.98. The disclosure for this sale 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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