Capital Fund Management S.A. acquired a new stake in Ball Co. (NYSE:BLL) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 93,550 shares of the industrial products company’s stock, valued at approximately $3,541,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Calton & Associates Inc. acquired a new position in shares of Ball in the 4th quarter valued at about $125,000. Benjamin F. Edwards & Company Inc. lifted its position in Ball by 63.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,881 shares of the industrial products company’s stock worth $147,000 after acquiring an additional 1,500 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Ball during the 4th quarter worth approximately $164,000. Howe & Rusling Inc. acquired a new position in Ball during the 3rd quarter worth approximately $182,000. Finally, Dai Ichi Life Insurance Company Ltd acquired a new position in Ball during the 3rd quarter worth approximately $209,000. 88.53% of the stock is currently owned by institutional investors and hedge funds.
In other Ball news, Chairman John A. Hayes sold 6,782 shares of Ball stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $38.61, for a total transaction of $261,853.02. Following the sale, the chairman now directly owns 398,485 shares in the company, valued at approximately $15,385,505.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John A. Hayes sold 5,519 shares of Ball stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $40.74, for a total value of $224,844.06. Following the sale, the chairman now owns 408,451 shares in the company, valued at $16,640,293.74. The disclosure for this sale can be found here. Insiders have sold a total of 20,625 shares of company stock worth $808,629 over the last 90 days. 2.70% of the stock is owned by company insiders.
Ball (NYSE:BLL) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. Ball had a return on equity of 19.20% and a net margin of 3.63%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the business earned $0.44 EPS. Ball’s revenue for the quarter was up 8.9% compared to the same quarter last year. equities analysts anticipate that Ball Co. will post 2.3 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.40 annualized dividend and a yield of 1.01%. Ball’s dividend payout ratio is presently 35.71%.
Several research firms recently commented on BLL. KeyCorp raised Ball from an “underweight” rating to a “sector weight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $48.00 price target (up from $47.00) on shares of Ball in a research report on Thursday, February 8th. Zacks Investment Research lowered Ball from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Citigroup raised Ball from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, January 17th. Finally, BMO Capital Markets raised Ball from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Monday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Ball currently 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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