Quantitative Systematic Strategies LLC purchased a new position in shares of Ball Corporation (NYSE:BLL) during the third quarter, Holdings Channel reports. The fund purchased 19,077 shares of the company’s stock, valued at approximately $1,552,000.
A number of other hedge funds also recently made changes to their positions in BLL. Gateway Investment Advisers LLC boosted its stake in shares of Ball Corporation by 0.3% in the third quarter. Gateway Investment Advisers LLC now owns 9,496 shares of the company’s stock worth $778,000 after buying an additional 26 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Ball Corporation by 1.4% in the third quarter. Suntrust Banks Inc. now owns 3,522 shares of the company’s stock worth $287,000 after buying an additional 47 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Ball Corporation by 2.8% in the third quarter. DAVENPORT & Co LLC now owns 3,650 shares of the company’s stock worth $299,000 after buying an additional 100 shares during the period. BB&T Corp boosted its stake in shares of Ball Corporation by 2.3% in the third quarter. BB&T Corp now owns 4,567 shares of the company’s stock worth $374,000 after buying an additional 101 shares during the period. Finally, Advantus Capital Management Inc boosted its stake in shares of Ball Corporation by 1.1% in the third quarter. Advantus Capital Management Inc now owns 17,247 shares of the company’s stock worth $1,413,000 after buying an additional 187 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.
Shares of Ball Corporation (NYSE:BLL) opened at 74.33 on Monday. The company has a market capitalization of $12.99 billion, a P/E ratio of 53.47 and a beta of 0.98. Ball Corporation has a one year low of $64.30 and a one year high of $82.24. The firm has a 50 day moving average price of $75.71 and a 200 day moving average price of $77.34.
Ball Corporation (NYSE:BLL) last released its earnings results on Thursday, February 2nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. The company earned $2.52 billion during the quarter, compared to analyst estimates of $2.55 billion. Ball Corporation had a return on equity of 18.44% and a net margin of 2.81%. Ball Corporation’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. On average, equities research analysts predict that Ball Corporation will post $4.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Monday, February 27th. Ball Corporation’s dividend payout ratio is presently 30.23%.
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A number of equities analysts have commented on the company. KeyCorp reissued a “hold” rating on shares of Ball Corporation in a research note on Monday, February 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $93.00 price target (down previously from $94.00) on shares of Ball Corporation in a research note on Thursday, November 10th. Zacks Investment Research lowered Ball Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, February 1st. Vertical Research raised Ball Corporation from a “hold” rating to a “buy” rating in a research note on Friday, February 3rd. Finally, TheStreet lowered Ball Corporation from a “b” rating to a “c+” rating in a research note on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $85.25.
About Ball Corporation
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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