Daiwa Securities Group Inc. trimmed its position in shares of Ball Co. (NYSE:BLL) by 20.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,428 shares of the industrial products company’s stock after selling 44,796 shares during the period. Daiwa Securities Group Inc. owned approximately 0.05% of Ball worth $12,554,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Balyasny Asset Management LLC grew its holdings in Ball by 16.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 127,035 shares of the industrial products company’s stock valued at $8,891,000 after purchasing an additional 17,543 shares in the last quarter. Calton & Associates Inc. acquired a new position in Ball during the 2nd quarter worth $213,000. Honkamp Krueger Financial Services Inc. acquired a new position in Ball during the 2nd quarter worth $236,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Ball by 46.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,114 shares of the industrial products company’s stock worth $1,267,000 after acquiring an additional 5,753 shares in the last quarter. Finally, AMI Asset Management Corp acquired a new position in Ball during the 2nd quarter worth $49,342,000. 82.60% of the stock is owned by institutional investors and hedge funds.
BLL has been the subject of several recent analyst reports. Vertical Research raised shares of Ball from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Co reissued a “hold” rating on shares of Ball in a report on Friday, November 1st. Citigroup decreased their price objective on shares of Ball from $86.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, October 17th. ValuEngine lowered shares of Ball from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley reissued a “buy” rating and set a $87.00 price objective on shares of Ball in a report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $76.02.
In other news, Director Stuart A. Taylor II sold 48,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $77.41, for a total value of $3,715,680.00. Following the transaction, the director now directly owns 146,966 shares in the company, valued at approximately $11,376,638.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman John A. Hayes sold 9,465 shares of Ball stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $66.48, for a total transaction of $629,233.20. Following the completion of the sale, the chairman now owns 438,296 shares in the company, valued at $29,137,918.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,936 shares of company stock worth $11,811,811. Insiders own 1.80% of the company’s stock.
Shares of Ball stock traded down $0.42 during trading hours on Friday, reaching $64.65. The company’s stock had a trading volume of 1,900,740 shares, compared to its average volume of 2,255,897. The company’s 50 day simple moving average is $71.97 and its 200 day simple moving average is $70.03. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.70 and a current ratio of 1.01. Ball Co. has a one year low of $42.24 and a one year high of $81.88. The stock has a market cap of $21.30 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 4.65 and a beta of 0.72.
Ball (NYSE:BLL) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.02). Ball had a return on equity of 22.86% and a net margin of 4.82%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the business posted $0.56 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Ball Co. will post 2.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.93%. Ball’s payout ratio is currently 27.27%.
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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