Zions Bancorporation Buys Shares of 2,599 Ball Co. (BLL)

Zions Bancorporation bought a new stake in Ball Co. (NYSE:BLL) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 2,599 shares of the industrial products company’s stock, valued at approximately $114,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BLL. DnB Asset Management AS grew its position in Ball by 9.4% during the 2nd quarter. DnB Asset Management AS now owns 46,360 shares of the industrial products company’s stock worth $1,648,000 after purchasing an additional 4,000 shares during the last quarter. IFM Investors Pty Ltd grew its position in Ball by 38.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 14,845 shares of the industrial products company’s stock worth $528,000 after purchasing an additional 4,114 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Ball by 1.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 100,942 shares of the industrial products company’s stock worth $3,588,000 after purchasing an additional 1,727 shares during the last quarter. Addenda Capital Inc. grew its position in Ball by 125.7% during the 2nd quarter. Addenda Capital Inc. now owns 54,690 shares of the industrial products company’s stock worth $1,745,000 after purchasing an additional 30,456 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new position in Ball during the 2nd quarter worth $4,228,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

BLL stock opened at $49.02 on Thursday. Ball Co. has a one year low of $34.71 and a one year high of $48.85. The firm has a market capitalization of $16.23 billion, a PE ratio of 24.03, a PEG ratio of 3.94 and a beta of 0.74. The company has a quick ratio of 0.69, a current ratio of 1.01 and a debt-to-equity ratio of 1.74.

Ball (NYSE:BLL) last released its earnings results on Thursday, November 1st. The industrial products company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). Ball had a return on equity of 20.02% and a net margin of 4.21%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the business posted $0.52 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts expect that Ball Co. will post 2.21 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, November 30th. Ball’s dividend payout ratio (DPR) is presently 19.61%.

In related news, Chairman John A. Hayes sold 96,667 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $43.00, for a total value of $4,156,681.00. Following the completion of the sale, the chairman now owns 471,228 shares in the company, valued at $20,262,804. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff A. Knobel sold 6,899 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $47.42, for a total transaction of $327,150.58. Following the completion of the sale, the vice president now owns 68,389 shares of the company’s stock, valued at approximately $3,243,006.38. The disclosure for this sale can be found here. Insiders sold a total of 128,566 shares of company stock valued at $5,593,832 in the last 90 days. Company insiders own 2.70% of the company’s stock.

BLL has been the topic of several research reports. TheStreet raised shares of Ball from a “c+” rating to a “b-” rating in a research report on Wednesday, August 1st. UBS Group set a $52.00 price objective on shares of Ball and gave the stock a “buy” rating in a research report on Friday, October 5th. Deutsche Bank set a $51.00 price objective on shares of Ball and gave the stock a “buy” rating in a research report on Thursday, October 4th. Royal Bank of Canada reissued a “buy” rating and set a $47.00 price objective on shares of Ball in a research report on Monday, August 6th. Finally, Bank of America raised their price objective on shares of Ball from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $50.00.

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Ball Company Profile

Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.

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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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