WESCAP Management Group Inc. Decreases Stock Holdings in Ball Co. (NYSE:BLL)

WESCAP Management Group Inc. lowered its holdings in shares of Ball Co. (NYSE:BLL) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,604 shares of the industrial products company’s stock after selling 656 shares during the period. Ball comprises 0.9% of WESCAP Management Group Inc.’s portfolio, making the stock its 29th largest holding. WESCAP Management Group Inc.’s holdings in Ball were worth $2,211,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BLL. Geode Capital Management LLC boosted its stake in shares of Ball by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 4,417,275 shares of the industrial products company’s stock valued at $202,755,000 after purchasing an additional 311,457 shares during the period. Meeder Asset Management Inc. acquired a new position in Ball during the 1st quarter valued at about $72,000. BB&T Corp bought a new position in shares of Ball during the 1st quarter valued at about $252,000. Advisor Partners LLC boosted its position in shares of Ball by 3.5% during the 1st quarter. Advisor Partners LLC now owns 5,680 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 191 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Ball during the 1st quarter valued at about $431,000. Institutional investors own 79.67% of the company’s stock.

Shares of Ball stock traded up $0.22 during midday trading on Thursday, hitting $79.95. The company had a trading volume of 623,640 shares, compared to its average volume of 2,014,836. The business’s 50 day simple moving average is $73.63 and its two-hundred day simple moving average is $63.24. The stock has a market cap of $26.47 billion, a PE ratio of 36.34, a P/E/G ratio of 5.61 and a beta of 0.80. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.10 and a quick ratio of 0.81. Ball Co. has a 1-year low of $40.39 and a 1-year high of $80.66.

Ball (NYSE:BLL) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). Ball had a return on equity of 21.32% and a net margin of 4.54%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts expect that Ball Co. will post 2.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.75%. Ball’s dividend payout ratio is currently 27.27%.

In related news, Director Stuart A. Taylor II sold 48,000 shares of Ball stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $77.41, for a total value of $3,715,680.00. Following the completion of the transaction, the director now directly owns 146,966 shares of the company’s stock, valued at $11,376,638.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott C. Morrison sold 17,224 shares of Ball stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $76.40, for a total value of $1,315,913.60. Following the completion of the transaction, the vice president now directly owns 442,361 shares of the company’s stock, valued at $33,796,380.40. The disclosure for this sale can be found here. Insiders have sold 130,701 shares of company stock worth $9,918,461 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Several equities analysts have recently weighed in on BLL shares. Citigroup raised their price objective on shares of Ball from $81.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Vertical Research cut shares of Ball from a “hold” rating to a “sell” rating in a report on Monday, July 8th. Morgan Stanley raised their target price on shares of Ball from $71.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. KeyCorp reissued a “hold” rating on shares of Ball in a research report on Friday, August 2nd. Finally, UBS Group increased their price target on shares of Ball from $60.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $63.46.

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.

Further Reading: Why do analysts give a neutral rating?

Institutional Ownership by Quarter for Ball (NYSE:BLL)

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