Northside Capital Management LLC acquired a new position in shares of Ball Co. (NYSE:BLL) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,306 shares of the industrial products company’s stock, valued at approximately $386,000.
Several other hedge funds also recently made changes to their positions in the company. Next Capital Management LLC purchased a new position in Ball in the second quarter valued at approximately $25,000. Whittier Trust Co. raised its holdings in Ball by 56.0% in the second quarter. Whittier Trust Co. now owns 496 shares of the industrial products company’s stock valued at $35,000 after buying an additional 178 shares during the period. Tortoise Investment Management LLC raised its holdings in Ball by 663.3% in the second quarter. Tortoise Investment Management LLC now owns 748 shares of the industrial products company’s stock valued at $52,000 after buying an additional 650 shares during the period. Larson Financial Group LLC purchased a new position in Ball in the second quarter valued at approximately $56,000. Finally, CSat Investment Advisory L.P. raised its holdings in Ball by 175.2% in the second quarter. CSat Investment Advisory L.P. now owns 787 shares of the industrial products company’s stock valued at $56,000 after buying an additional 501 shares during the period. Institutional investors and hedge funds own 82.72% of the company’s stock.
In other news, Director Stuart A. Taylor II sold 48,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $77.41, for a total transaction of $3,715,680.00. Following the completion of the sale, the director now owns 146,966 shares of the company’s stock, valued at $11,376,638.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles E. Baker sold 19,563 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $80.06, for a total transaction of $1,566,213.78. Following the sale, the vice president now directly owns 215,223 shares of the company’s stock, valued at approximately $17,230,753.38. The disclosure for this sale can be found here. Insiders have sold 138,028 shares of company stock valued at $10,707,950 in the last three months. Corporate insiders own 1.80% of the company’s stock.
Ball (NYSE:BLL) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 EPS. On average, equities research analysts expect that Ball Co. will post 2.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, August 30th. Ball’s payout ratio is currently 27.27%.
Several research analysts recently commented on the stock. Citigroup raised their price target on shares of Ball from $81.00 to $86.00 and gave the company a “buy” rating in a report on Monday, August 5th. Morgan Stanley raised their price target on shares of Ball from $71.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Wells Fargo & Co lowered shares of Ball from an “outperform” rating to a “market perform” rating and raised their price target for the company from $68.00 to $72.00 in a report on Monday, August 5th. UBS Group raised their price target on shares of Ball from $60.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Vertical Research lowered shares of Ball from a “hold” rating to a “sell” rating in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.71.
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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