AMG National Trust Bank boosted its position in shares of Ball Co. (NYSE:BLL) by 9.6% in the 4th quarter, HoldingsChannel reports. The fund owned 770,489 shares of the industrial products company’s stock after purchasing an additional 67,755 shares during the period. Ball makes up 1.9% of AMG National Trust Bank’s holdings, making the stock its 10th largest holding. AMG National Trust Bank’s holdings in Ball were worth $29,163,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Ball by 1.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,182,399 shares of the industrial products company’s stock worth $628,855,000 after buying an additional 246,397 shares in the last quarter. Iridian Asset Management LLC CT grew its stake in Ball by 25.8% in the 3rd quarter. Iridian Asset Management LLC CT now owns 7,871,056 shares of the industrial products company’s stock worth $325,075,000 after buying an additional 1,613,246 shares in the last quarter. Janus Henderson Group PLC grew its stake in Ball by 3.4% in the 3rd quarter. Janus Henderson Group PLC now owns 4,271,901 shares of the industrial products company’s stock worth $176,431,000 after buying an additional 139,329 shares in the last quarter. Bessemer Group Inc. grew its stake in Ball by 19.2% in the 3rd quarter. Bessemer Group Inc. now owns 4,074,776 shares of the industrial products company’s stock worth $168,289,000 after buying an additional 656,667 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Ball by 6.8% in the 3rd quarter. American Century Companies Inc. now owns 3,672,592 shares of the industrial products company’s stock worth $151,678,000 after buying an additional 233,445 shares in the last quarter. 89.08% of the stock is owned by institutional investors.
In related news, COO James N. Peterson sold 1,349 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $38.05, for a total transaction of $51,329.45. Following the completion of the sale, the chief operating officer now directly owns 38,008 shares in the company, valued at approximately $1,446,204.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman John A. Hayes sold 6,782 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $38.61, for a total transaction of $261,853.02. Following the sale, the chairman now owns 398,485 shares of the company’s stock, valued at $15,385,505.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,241 shares of company stock valued at $638,091. Company insiders own 2.70% of the company’s stock.
Ball (NYSE:BLL) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.08. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.64 billion. Ball had a net margin of 3.63% and a return on equity of 19.20%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. research analysts predict that Ball Co. will post 2.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.05%. Ball’s payout ratio is 35.71%.
A number of equities analysts have commented on the stock. KeyCorp raised shares of Ball from an “underweight” rating to a “sector weight” rating in a research note on Monday. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $48.00 price target (up previously from $47.00) on shares of Ball in a research note on Thursday, February 8th. Zacks Investment Research cut shares of Ball from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Citigroup raised shares of Ball from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Wednesday, January 17th. Finally, TheStreet cut shares of Ball from a “b-” rating to a “c+” rating in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.21.
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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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