Great West Life Assurance Co. Can lessened its position in Ball Co. (NYSE:BLL) by 12.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 214,275 shares of the industrial products company’s stock after selling 29,671 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.06% of Ball worth $9,432,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Three Peaks Capital Management LLC purchased a new position in shares of Ball in the 3rd quarter valued at approximately $3,033,000. Private Advisor Group LLC purchased a new position in shares of Ball in the 2nd quarter valued at approximately $285,000. Wolverine Asset Management LLC lifted its stake in shares of Ball by 96.4% in the 2nd quarter. Wolverine Asset Management LLC now owns 55,000 shares of the industrial products company’s stock valued at $1,955,000 after purchasing an additional 27,000 shares during the period. Nomura Holdings Inc. lifted its stake in shares of Ball by 5.7% in the 2nd quarter. Nomura Holdings Inc. now owns 29,065 shares of the industrial products company’s stock valued at $1,034,000 after purchasing an additional 1,558 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Ball by 5.5% in the 2nd quarter. CIBC Asset Management Inc now owns 34,755 shares of the industrial products company’s stock valued at $1,236,000 after purchasing an additional 1,802 shares during the period. Institutional investors own 88.48% of the company’s stock.
In other news, VP Jeff A. Knobel sold 6,899 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $47.42, for a total value of $327,150.58. Following the completion of the transaction, the vice president now owns 68,389 shares in the company, valued at $3,243,006.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Charles E. Baker sold 16,647 shares of the business’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $50.50, for a total value of $840,673.50. The disclosure for this sale can be found here. Insiders sold 145,213 shares of company stock valued at $6,434,505 in the last 90 days. Company insiders own 2.70% of the company’s stock.
Shares of NYSE:BLL opened at $48.39 on Friday. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 4.01 and a beta of 0.75. Ball Co. has a 12-month low of $34.71 and a 12-month high of $50.98. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.01 and a quick ratio of 0.69.
Ball (NYSE:BLL) last announced its quarterly earnings data 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). Ball had a net margin of 4.21% and a return on equity of 20.02%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, research analysts anticipate that Ball Co. will post 2.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, November 30th. Ball’s dividend payout ratio is currently 19.61%.
BLL has been the subject of a number of research analyst reports. Zacks Investment Research cut Ball from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Bank of America lifted their price objective on Ball from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, September 24th. JPMorgan Chase & Co. lifted their price objective on Ball from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Citigroup lifted their price objective on Ball from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 2nd. Finally, Robert W. Baird lifted their price objective on Ball from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, October 3rd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.00.
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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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