Indiana Trust & Investment Management CO lessened its holdings in shares of Ball Co. (NYSE:BLL) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,311 shares of the industrial products company’s stock after selling 4,850 shares during the quarter. Ball makes up about 3.0% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 6th biggest holding. Indiana Trust & Investment Management CO’s holdings in Ball were worth $5,862,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Cigna Investments Inc. New grew its holdings in shares of Ball by 1.9% in the fourth quarter. Cigna Investments Inc. New now owns 9,906 shares of the industrial products company’s stock valued at $455,000 after purchasing an additional 189 shares during the period. IFP Advisors Inc increased its stake in Ball by 24.5% during the fourth quarter. IFP Advisors Inc now owns 1,062 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 209 shares during the last quarter. Legacy Financial Advisors Inc. raised its position in Ball by 29.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,060 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 238 shares during the period. Advisors Capital Management LLC raised its position in Ball by 0.4% in the fourth quarter. Advisors Capital Management LLC now owns 69,518 shares of the industrial products company’s stock valued at $3,196,000 after purchasing an additional 247 shares during the period. Finally, Cozad Asset Management Inc. lifted its stake in shares of Ball by 4.1% in the 4th quarter. Cozad Asset Management Inc. now owns 7,437 shares of the industrial products company’s stock valued at $342,000 after purchasing an additional 295 shares during the last quarter. 87.21% of the stock is owned by institutional investors and hedge funds.
BLL has been the subject of a number of research analyst reports. Citigroup increased their price target on Ball from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Co boosted their price objective on shares of Ball from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 21st. UBS Group lowered shares of Ball from a “buy” rating to a “neutral” rating and set a $58.00 target price for the company. in a research note on Friday, February 15th. BMO Capital Markets lifted their price target on shares of Ball from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, February 13th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $55.00 price target on shares of Ball and gave the company a “buy” rating in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, six have given 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 an average target price of $54.31.
Shares of NYSE:BLL traded up $0.29 on Monday, hitting $58.40. 85,413 shares of the company’s stock were exchanged, compared to its average volume of 2,345,291. Ball Co. has a 1-year low of $34.71 and a 1-year high of $58.95. The stock has a market cap of $19.42 billion, a P/E ratio of 26.45, a P/E/G ratio of 4.04 and a beta of 0.83. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.65 and a current ratio of 0.96.
Ball (NYSE:BLL) last announced its quarterly earnings results on Thursday, January 31st. The industrial products company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.01). Ball had a return on equity of 20.08% and a net margin of 3.90%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.68 billion. On average, equities research analysts predict that Ball Co. will post 2.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Thursday, February 28th. Ball’s dividend payout ratio is currently 18.18%.
Ball declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 23rd that permits the company to buyback 50,000,000 outstanding shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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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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