Teacher Retirement System of Texas increased its stake in Ball Corp. (NYSE:BLL) by 36.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,636 shares of the company’s stock after buying an additional 2,584 shares during the period. Teacher Retirement System of Texas’ holdings in Ball Corp. were worth $697,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of BLL. Investec Asset Management LTD bought a new stake in Ball Corp. during the first quarter valued at approximately $217,000. M&T Bank Corp boosted its stake in Ball Corp. by 2.9% in the first quarter. M&T Bank Corp now owns 26,391 shares of the company’s stock worth $1,880,000 after buying an additional 735 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in Ball Corp. during the first quarter worth about $367,000. BlackRock Japan Co. Ltd boosted its stake in Ball Corp. by 0.8% in the first quarter. BlackRock Japan Co. Ltd now owns 152,602 shares of the company’s stock worth $10,879,000 after buying an additional 1,217 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Ball Corp. by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,738,449 shares of the company’s stock worth $266,514,000 after buying an additional 99,848 shares during the period. Institutional investors and hedge funds own 77.68% of the company’s stock.
Shares of Ball Corp. (NYSE:BLL) traded up 0.51% during trading on Friday, reaching $81.31. 410,445 shares of the company were exchanged. The company has a 50 day moving average price of $79.53 and a 200-day moving average price of $73.97. The stock has a market capitalization of $14.17 billion, a price-to-earnings ratio of 37.47 and a beta of 1.11. Ball Corp. has a one year low of $62.03 and a one year high of $81.67.
Ball Corp. (NYSE:BLL) last posted its earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Ball Corp. had a return on equity of 27.28% and a net margin of 4.45%. The business earned $2.03 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the business earned $0.89 EPS. Ball Corp.’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities analysts predict that Ball Corp. will post $3.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.64%. Ball Corp.’s payout ratio is 22.13%.
BLL has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Ball Corp. from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Vertical Research cut shares of Ball Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Bank of America Corp. reiterated a “buy” rating and issued a $80.00 target price on shares of Ball Corp. in a research note on Thursday, July 7th. Jefferies Group reiterated a “buy” rating and issued a $86.00 target price on shares of Ball Corp. in a research note on Tuesday, July 5th. Finally, Barclays PLC initiated coverage on shares of Ball Corp. in a research note on Thursday, July 14th. They issued an “equal weight” rating and a $75.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Ball Corp. presently has a consensus rating of “Buy” and an average price target of $84.00.
In other news, VP Shawn M. Barker sold 16,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 3,397 shares of the company’s stock, valued at approximately $272,914.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cynthia A. Niekamp purchased 3,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were acquired at an average cost of $80.37 per share, with a total value of $241,110.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at $241,110. The disclosure for this purchase can be found here. Corporate 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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