Fifth Third Bancorp raised its stake in Ball Corporation (NYSE:BLL) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 3,646 shares of the industrial products company’s stock after buying an additional 75 shares during the period. Fifth Third Bancorp’s holdings in Ball Corporation were worth $271,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of BLL. Cigna Investments Inc. New acquired a new stake in shares of Ball Corporation during the fourth quarter valued at $475,000. AQR Capital Management LLC increased its stake in Ball Corporation by 131.1% in the fourth quarter. AQR Capital Management LLC now owns 7,713 shares of the industrial products company’s stock worth $579,000 after buying an additional 4,375 shares during the period. Guggenheim Capital LLC increased its stake in Ball Corporation by 28.7% in the fourth quarter. Guggenheim Capital LLC now owns 429,247 shares of the industrial products company’s stock worth $32,223,000 after buying an additional 95,732 shares during the period. GSA Capital Partners LLP purchased a new stake in Ball Corporation during the fourth quarter worth approximately $432,000. Finally, Envestnet Asset Management Inc. increased its stake in Ball Corporation by 404.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,709 shares of the industrial products company’s stock worth $1,030,000 after buying an additional 10,990 shares during the period. 43.30% of the stock is owned by institutional investors and hedge funds.
Ball Corporation (NYSE:BLL) opened at 42.07 on Friday. Ball Corporation has a 1-year low of $33.76 and a 1-year high of $42.30. The firm’s 50-day moving average price is $52.97 and its 200-day moving average price is $69.09. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 31.30 and a beta of 0.95.
Ball Corporation (NYSE:BLL) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.41 billion. Ball Corporation had a return on equity of 16.46% and a net margin of 4.59%. Ball Corporation’s revenue was up 40.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. On average, equities research analysts anticipate that Ball Corporation will post $2.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a dividend of $0.10 per share. This is an increase from Ball Corporation’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, May 30th. This represents a $0.40 annualized dividend and a yield of 0.95%. Ball Corporation’s dividend payout ratio (DPR) is presently 26.67%.
BLL has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) initiated coverage on Ball Corporation in a report on Thursday, March 2nd. They set a “neutral” rating and a $40.00 target price for the company. They noted that the move was a valuation call. BMO Capital Markets reissued a “hold” rating and issued a $39.50 price target on shares of Ball Corporation in a report on Tuesday, March 14th. Zacks Investment Research downgraded Ball Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Jefferies Group LLC boosted their price target on Ball Corporation from $45.00 to $47.50 and gave the company a “buy” rating in a report on Monday, May 15th. Finally, Vertical Research downgraded Ball Corporation from a “buy” rating to a “hold” rating and set a $41.50 price target for the company. in a report on Friday, May 5th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $42.23.
In other Ball Corporation news, COO Daniel William Fisher sold 1,750 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $41.77, for a total transaction of $73,097.50. Following the completion of the transaction, the chief operating officer now owns 11,594 shares of the company’s stock, valued at $484,281.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John A. Hayes sold 2,717 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $80.62, for a total value of $219,044.54. Following the transaction, the chairman now directly owns 206,255 shares of the company’s stock, valued at approximately $16,628,278.10. The disclosure for this sale can be found here. Insiders have sold 74,702 shares of company stock valued at $3,261,845 in the last three months. 2.70% of the stock is currently owned by company insiders.
Ball Corporation Company Profile
Ball Corporation 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. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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