Wolverine Asset Management LLC bought a new stake in Ball Co. (NYSE:BLL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 40,000 shares of the industrial products company’s stock, valued at approximately $1,514,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Ball by 65.2% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 296,870 shares of the industrial products company’s stock valued at $12,261,000 after acquiring an additional 117,140 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Ball by 16.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 171,461 shares of the industrial products company’s stock valued at $7,067,000 after acquiring an additional 24,454 shares in the last quarter. Swiss National Bank boosted its stake in Ball by 1.4% in the third quarter. Swiss National Bank now owns 1,227,842 shares of the industrial products company’s stock valued at $50,710,000 after acquiring an additional 16,400 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its stake in Ball by 2.2% in the third quarter. Atlanta Capital Management Co. L L C now owns 1,831,763 shares of the industrial products company’s stock valued at $75,652,000 after acquiring an additional 39,388 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Ball by 36.3% in the third quarter. Sei Investments Co. now owns 294,861 shares of the industrial products company’s stock valued at $17,145,000 after acquiring an additional 78,544 shares in the last quarter. Institutional investors own 87.86% of the company’s stock.
In related news, Director R David Hoover sold 2,200 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $40.71, for a total transaction of $89,562.00. Following the completion of the transaction, the director now directly owns 194,594 shares in the company, valued at $7,921,921.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel William Fisher bought 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of $40.10 per share, with a total value of $360,900.00. The disclosure for this purchase can be found here. Insiders have sold 47,677 shares of company stock valued at $1,867,290 over the last 90 days. 2.70% of the stock is currently owned by insiders.
Ball (NYSE:BLL) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.64 billion. Ball had a net margin of 3.63% and a return on equity of 19.24%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. equities analysts anticipate that Ball Co. will post 2.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 0.96%. Ball’s dividend payout ratio is presently 35.71%.
Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $48.00 target price (up from $47.00) on shares of Ball in a research note on Thursday, February 8th. KeyCorp downgraded shares of Ball from a “sector weight” rating to an “underweight” rating and lowered their price objective for the stock from $40.81 to $36.00 in a research note on Friday, December 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Ball from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. BMO Capital Markets upgraded shares of Ball from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research note on Monday, December 4th. Finally, Vertical Research upgraded shares of Ball from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Friday, December 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $45.62.
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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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