Meridian Wealth Management LLC raised its holdings in shares of Ball Co. (NYSE:BLL) by 228.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,775 shares of the industrial products company’s stock after purchasing an additional 2,625 shares during the quarter. Meridian Wealth Management LLC’s holdings in Ball were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in Ball by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 4,417,275 shares of the industrial products company’s stock worth $202,755,000 after purchasing an additional 311,457 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Ball during the 4th quarter valued at $1,825,000. Suntrust Banks Inc. acquired a new stake in shares of Ball during the 4th quarter valued at $240,000. MML Investors Services LLC acquired a new stake in shares of Ball during the 4th quarter valued at $278,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Ball during the 4th quarter valued at $418,000. 81.05% of the stock is currently owned by institutional investors and hedge funds.
BLL has been the subject of a number of research reports. Vertical Research lowered shares of Ball from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. KeyCorp reissued a “hold” rating on shares of Ball in a research note on Thursday, May 2nd. BMO Capital Markets reissued a “hold” rating on shares of Snc-Lavalin Group in a research note on Monday, April 8th. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Wells Fargo & Co set a $9.00 target price on shares of Bausch Health Companies and gave the company a “sell” rating in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Ball has a consensus rating of “Hold” and a consensus price target of $58.01.
Ball (NYSE:BLL) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). Ball had a net margin of 3.83% and a return on equity of 20.39%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities analysts predict that Ball Co. will post 2.6 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Friday, August 30th. Ball’s payout ratio is presently 27.27%.
In related news, Chairman John A. Hayes sold 9,523 shares of Ball stock in a transaction on Monday, July 8th. The shares were sold at an average price of $70.98, for a total value of $675,942.54. Following the completion of the sale, the chairman now owns 437,979 shares of the company’s stock, valued at approximately $31,087,749.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Daniel William Fisher sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $66.14, for a total transaction of $330,700.00. Following the transaction, the chief operating officer now directly owns 34,045 shares of the company’s stock, valued at approximately $2,251,736.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,078 shares of company stock valued at $2,746,288. 1.80% of the stock is owned by company insiders.
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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