Bridgefront Capital LLC Takes Position in Ball Co. (NYSE:BLL)

Bridgefront Capital LLC bought a new stake in Ball Co. (NYSE:BLL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,485 shares of the industrial products company’s stock, valued at approximately $444,000.

Several other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Ball by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,529,714 shares of the industrial products company’s stock valued at $2,163,388,000 after purchasing an additional 1,856,256 shares during the last quarter. Morgan Stanley grew its position in shares of Ball by 10.9% in the first quarter. Morgan Stanley now owns 6,607,457 shares of the industrial products company’s stock valued at $559,916,000 after purchasing an additional 647,070 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Ball by 3.1% in the first quarter. Geode Capital Management LLC now owns 5,767,539 shares of the industrial products company’s stock valued at $487,472,000 after purchasing an additional 173,552 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Ball by 31.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,901,809 shares of the industrial products company’s stock valued at $415,379,000 after purchasing an additional 1,172,069 shares during the last quarter. Finally, Sustainable Growth Advisers LP grew its position in Ball by 27.5% during the first quarter. Sustainable Growth Advisers LP now owns 4,598,125 shares of the industrial products company’s stock worth $389,645,000 after buying an additional 991,966 shares in the last quarter. 80.59% of the stock is currently owned by institutional investors.

Shares of BLL opened at $92.30 on Friday. Ball Co. has a 52 week low of $77.95 and a 52 week high of $102.76. The stock has a market capitalization of $30.15 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 5.35 and a beta of 0.47. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.60 and a current ratio of 0.85. The stock has a fifty day moving average of $89.82 and a 200-day moving average of $87.19.

Ball (NYSE:BLL) last posted its quarterly earnings data on Thursday, August 5th. The industrial products company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.22 billion. Ball had a return on equity of 32.37% and a net margin of 6.81%. Ball’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, equities analysts forecast that Ball Co. will post 3.55 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.87%. This is an increase from Ball’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, August 31st. Ball’s dividend payout ratio is presently 26.94%.

BLL has been the topic of a number of analyst reports. Truist Securities initiated coverage on Ball in a research report on Tuesday, September 14th. They set a “hold” rating and a $102.00 price target on the stock. Wells Fargo & Company reduced their price target on Ball from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Monday, August 9th. Barclays increased their price target on Ball from $95.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Monday, September 20th. Atlantic Securities raised Ball from a “neutral” rating to an “overweight” rating and set a $101.00 price target on the stock in a research report on Tuesday, June 22nd. Finally, Robert W. Baird reissued a “hold” rating and set a $85.00 price target on shares of Ball in a research report on Friday, August 6th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $102.35.

In other Ball news, insider David A. Kaufman sold 1,060 shares of the stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $94.58, for a total transaction of $100,254.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Ann Pauley sold 17,773 shares of the stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $88.95, for a total value of $1,580,908.35. The disclosure for this sale can be found here. Insiders purchased 11,200 shares of company stock valued at $1,020,152 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

About Ball

Ball Corp. provides metal packaging for beverages, foods and household products. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; and Aerospace. The Beverage Packaging, North and Central America segment sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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