TrinityPoint Wealth LLC Invests $245,000 in Ball Co. (NYSE:BLL)

TrinityPoint Wealth LLC purchased a new position in Ball Co. (NYSE:BLL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,400 shares of the industrial products company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jackson Square Partners LLC purchased a new position in Ball during the 1st quarter worth $254,594,000. AMI Asset Management Corp purchased a new position in Ball during the 2nd quarter worth $49,342,000. BlackRock Inc. grew its stake in Ball by 2.7% during the 1st quarter. BlackRock Inc. now owns 22,146,380 shares of the industrial products company’s stock worth $1,281,389,000 after buying an additional 580,211 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in Ball during the 2nd quarter worth $38,346,000. Finally, California Public Employees Retirement System grew its stake in Ball by 24.1% during the 1st quarter. California Public Employees Retirement System now owns 2,086,472 shares of the industrial products company’s stock worth $120,723,000 after buying an additional 405,090 shares during the last quarter. 79.67% of the stock is owned by hedge funds and other institutional investors.

In other news, Chairman John A. Hayes sold 9,247 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $65.19, for a total value of $602,811.93. Following the sale, the chairman now owns 439,485 shares in the company, valued at $28,650,027.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stuart A. Taylor II sold 48,000 shares of the company’s 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 sale, the director now owns 146,966 shares in the company, valued at approximately $11,376,638.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,701 shares of company stock worth $9,918,461. Company insiders own 1.80% of the company’s stock.

Ball stock traded down $0.84 during trading hours on Friday, hitting $78.92. 19,635 shares of the stock traded hands, compared to its average volume of 2,057,751. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.10 and a quick ratio of 0.81. The firm’s 50 day moving average price is $73.78 and its 200-day moving average price is $63.38. The stock has a market capitalization of $26.29 billion, a price-to-earnings ratio of 35.91, a P/E/G ratio of 5.57 and a beta of 0.80. 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 Thomson Reuters’ consensus estimate of $0.65 by ($0.01). The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Ball had a net margin of 4.54% and a return on equity of 21.32%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 EPS. Research analysts forecast that Ball Co. will post 2.58 earnings per share for the current fiscal year.

The company 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 annualized dividend and a yield of 0.76%. Ball’s payout ratio is presently 27.27%.

BLL has been the topic of several research analyst reports. Morgan Stanley boosted their target price on Ball from $71.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Vertical Research downgraded Ball from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. UBS Group boosted their target price on Ball from $60.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. ValuEngine downgraded Ball from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, KeyCorp restated a “hold” rating on shares of Ball in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $63.46.

Ball 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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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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