Xact Kapitalforvaltning AB lowered its position in shares of Ball Co. (NYSE:BLL) by 5.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,782 shares of the industrial products company’s stock after selling 1,962 shares during the period. Xact Kapitalforvaltning AB’s holdings in Ball were worth $1,398,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Adviser Investments LLC bought a new position in shares of Ball during the second quarter worth about $106,000. Piedmont Investment Advisors LLC bought a new position in shares of Ball during the second quarter worth about $145,000. Visionary Asset Management Inc. bought a new position in shares of Ball during the third quarter worth about $220,000. Creative Planning bought a new position in shares of Ball during the second quarter worth about $215,000. Finally, UMB Bank N A MO bought a new position in shares of Ball during the third quarter worth about $293,000. Institutional investors and hedge funds own 85.70% of the company’s stock.
In related news, Chairman John A. Hayes sold 96,667 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $43.00, for a total value of $4,156,681.00. Following the completion of the transaction, the chairman now owns 471,228 shares in the company, valued at approximately $20,262,804. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott C. Morrison sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $44.40, for a total transaction of $1,110,000.00. Following the transaction, the vice president now owns 30,392 shares of the company’s stock, valued at approximately $1,349,404.80. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
Ball (NYSE:BLL) last announced its earnings results on Thursday, November 1st. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.80 billion. Ball had a net margin of 4.21% and a return on equity of 20.02%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Equities research analysts expect that Ball Co. will post 2.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a $0.10 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. Ball’s dividend payout ratio is presently 19.61%.
Several equities analysts have recently commented on BLL shares. Zacks Investment Research lowered shares of Ball from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Bank of America upped their price target on shares of Ball from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. Robert W. Baird upped their price target on shares of Ball from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 3rd. BMO Capital Markets restated an “outperform” rating and set a $52.00 price target on shares of Ball in a research report on Thursday, October 4th. Finally, ValuEngine upgraded shares of Ball from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Ball currently has an average rating of “Buy” and an average target price of $49.54.
Ball Company Profile
Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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