BNP Paribas Arbitrage SA increased its stake in Ball Co. (NYSE:BLL) by 148.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,419 shares of the industrial products company’s stock after buying an additional 76,107 shares during the period. BNP Paribas Arbitrage SA owned about 0.07% of Ball worth $9,462,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in BLL. Price T Rowe Associates Inc. MD increased its position in shares of Ball by 28.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 15,125,555 shares of the industrial products company’s stock valued at $1,239,539,000 after buying an additional 3,314,765 shares during the last quarter. Norges Bank purchased a new position in shares of Ball during the fourth quarter valued at approximately $103,532,000. State Street Corp increased its position in shares of Ball by 8.0% in the fourth quarter. State Street Corp now owns 7,388,368 shares of the industrial products company’s stock valued at $554,660,000 after buying an additional 547,365 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Ball during the fourth quarter valued at approximately $36,124,000. Finally, FMR LLC increased its position in shares of Ball by 4.0% in the fourth quarter. FMR LLC now owns 12,107,274 shares of the industrial products company’s stock valued at $908,893,000 after buying an additional 468,980 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.
Ball Co. (NYSE:BLL) traded up 0.73% during mid-day trading on Friday, hitting $40.04. 2,170,297 shares of the stock were exchanged. The firm has a market cap of $14.06 billion, a price-to-earnings ratio of 29.79 and a beta of 0.98. Ball Co. has a 52-week low of $39.34 and a 52-week high of $82.24. The company has a 50 day moving average price of $73.56 and a 200 day moving average price of $74.91.
Ball (NYSE:BLL) last issued its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.41 billion. Ball had a net margin of 2.81% and a return on equity of 18.44%. The company’s revenue was up 40.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, analysts anticipate that Ball Co. will post $2.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a $0.10 dividend. This is an increase from Ball’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.40 annualized dividend and a yield of 1.01%. Ball’s dividend payout ratio is 30.23%.
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BLL has been the subject of several research reports. Jefferies Group LLC boosted their price objective on shares of Ball from $45.00 to $47.50 and gave the company a “buy” rating in a research report on Friday, May 5th. TheStreet raised shares of Ball from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. ValuEngine raised shares of Ball from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Vertical Research cut shares of Ball from a “buy” rating to a “hold” rating and set a $41.50 price target for the company. in a research report on Friday, May 5th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $39.50 price target on shares of Ball in a research report on Wednesday, April 12th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ball currently has an average rating of “Buy” and a consensus price target of $42.23.
In related news, Director R David Hoover sold 5,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $74.07, for a total value of $370,350.00. Following the completion of the sale, the director now owns 112,462 shares in the company, valued at approximately $8,330,060.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Heinrich purchased 1,750 shares of Ball stock in a transaction that occurred on Wednesday, March 8th. The stock was acquired at an average price of $72.27 per share, with a total value of $126,472.50. Following the transaction, the director now owns 3,373 shares in the company, valued at $243,766.71. The disclosure for this purchase can be found here. In the last quarter, insiders sold 41,793 shares of company stock valued at $2,359,750. 3.50% of the stock is owned by insiders.
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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