Tokio Marine Asset Management Co. Ltd. cut its stake in shares of Ball Co. (NYSE:BLL) by 17.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,561 shares of the company’s stock after selling 3,800 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Ball were worth $1,269,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Aviva PLC raised its position in shares of Ball by 1.3% in the first quarter. Aviva PLC now owns 69,724 shares of the company’s stock valued at $4,971,000 after buying an additional 924 shares in the last quarter. Investec Asset Management LTD bought a new position in shares of Ball during the first quarter valued at approximately $217,000. M&T Bank Corp raised its position in shares of Ball by 2.9% in the first quarter. M&T Bank Corp now owns 26,391 shares of the company’s stock valued at $1,880,000 after buying an additional 735 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Ball during the first quarter valued at approximately $367,000. Finally, BlackRock Japan Co. Ltd raised its position in shares of Ball by 0.8% in the first quarter. BlackRock Japan Co. Ltd now owns 152,602 shares of the company’s stock valued at $10,879,000 after buying an additional 1,217 shares in the last quarter. Institutional investors own 77.68% of the company’s stock.
Shares of Ball Co. (NYSE:BLL) traded down 1.34% during midday trading on Monday, hitting $80.85. 1,007,486 shares of the company’s stock were exchanged. The stock has a market cap of $14.09 billion, a PE ratio of 37.26 and a beta of 1.02. The stock’s 50 day moving average is $79.59 and its 200-day moving average is $74.21. Ball Co. has a 1-year low of $62.30 and a 1-year high of $82.24.
Ball (NYSE:BLL) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Ball had a net margin of 4.45% and a return on equity of 27.28%. Ball’s revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Analysts predict that Ball Co. will post $3.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given 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 yield of 0.64%. Ball’s dividend payout ratio (DPR) is 22.13%.
Several equities analysts have recently commented on the stock. Bank of America Corp. restated a “buy” rating and issued a $90.00 price objective on shares of Ball in a report on Thursday. TheStreet raised shares of Ball from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. JPMorgan Chase & Co. upped their target price on shares of Ball from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $85.00 target price on shares of Ball in a research note on Sunday, August 7th. Finally, Vertical Research downgraded shares of Ball from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $84.00.
In other Ball news, Director Robert W. Alspaugh purchased 3,000 shares of Ball stock in a transaction on 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 transaction, the director now directly owns 500 shares in the company, valued at approximately $39,635. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Shawn M. Barker sold 16,000 shares of Ball 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 transaction, the vice president now directly owns 3,397 shares in the company, valued at $272,914.98. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.
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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