Shelton Capital Management lessened its holdings in Ball Co. (NYSE:BLL) by 32.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,068 shares of the industrial products company’s stock after selling 8,200 shares during the period. Shelton Capital Management’s holdings in Ball were worth $1,419,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in BLL. Victory Capital Management Inc. raised its holdings in shares of Ball by 250.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,407,803 shares of the industrial products company’s stock valued at $97,828,000 after buying an additional 1,006,001 shares during the period. DAVENPORT & Co LLC raised its holdings in shares of Ball by 6,990.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 516,203 shares of the industrial products company’s stock valued at $42,907,000 after buying an additional 508,923 shares during the period. Winslow Capital Management LLC increased its holdings in Ball by 15.6% during the 2nd quarter. Winslow Capital Management LLC now owns 3,530,256 shares of the industrial products company’s stock worth $245,318,000 after purchasing an additional 475,256 shares during the period. Assenagon Asset Management S.A. increased its holdings in Ball by 335.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 602,511 shares of the industrial products company’s stock worth $50,081,000 after purchasing an additional 464,038 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Ball by 207.0% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 525,560 shares of the industrial products company’s stock worth $43,685,000 after purchasing an additional 354,342 shares during the period. 73.60% of the stock is currently owned by institutional investors and hedge funds.
In other Ball news, VP Robert D. Strain sold 7,887 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $77.41, for a total transaction of $610,532.67. Following the completion of the sale, the vice president now directly owns 69,978 shares of the company’s stock, valued at approximately $5,416,996.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Charles E. Baker sold 40,000 shares of the stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $95.49, for a total value of $3,819,600.00. Following the sale, the vice president now directly owns 191,678 shares of the company’s stock, valued at $18,303,332.22. The disclosure for this sale can be found here. Insiders have sold a total of 65,559 shares of company stock valued at $6,114,880 over the last ninety days. 1.70% of the stock is owned by insiders.
Ball (NYSE:BLL) last announced its earnings results on Thursday, November 5th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Ball had a return on equity of 33.14% and a net margin of 4.54%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Sell-side analysts anticipate that Ball Co. will post 2.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.62%. Ball’s payout ratio is 23.72%.
Several brokerages have weighed in on BLL. Royal Bank of Canada upped their price target on Ball from $84.00 to $112.00 and gave the stock an “outperform” rating in a report on Monday, November 9th. BMO Capital Markets upgraded Ball from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $70.00 to $107.00 in a report on Thursday, October 8th. Robert W. Baird upped their price target on Ball from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. JPMorgan Chase & Co. upped their price objective on Ball from $87.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Finally, Citigroup lowered their price objective on Ball from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. Ball presently has a consensus rating of “Buy” and an average target price of $98.67.
Ball Company Profile
Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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