Plaisance Capital LLC lessened its stake in Ball Co. (NYSE:BLL) by 83.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,730 shares of the industrial products company’s stock after selling 38,070 shares during the quarter. Ball accounts for about 0.6% of Plaisance Capital LLC’s portfolio, making the stock its 25th largest holding. Plaisance Capital LLC’s holdings in Ball were worth $537,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. First Merchants Corp increased its stake in shares of Ball by 8,261.6% during the second quarter. First Merchants Corp now owns 4,032,288 shares of the industrial products company’s stock worth $280,204,000 after purchasing an additional 3,984,064 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Ball by 46.0% during the 1st quarter. Nuveen Asset Management LLC now owns 3,487,955 shares of the industrial products company’s stock valued at $225,532,000 after acquiring an additional 1,098,470 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Ball by 171.2% in the first quarter. Clearbridge Investments LLC now owns 1,603,170 shares of the industrial products company’s stock valued at $103,661,000 after purchasing an additional 1,011,956 shares during the period. Victory Capital Management Inc. increased its position in Ball by 250.4% during the second quarter. Victory Capital Management Inc. now owns 1,407,803 shares of the industrial products company’s stock worth $97,828,000 after purchasing an additional 1,006,001 shares during the last quarter. Finally, Winslow Capital Management LLC increased its position in Ball by 15.6% during the second quarter. Winslow Capital Management LLC now owns 3,530,256 shares of the industrial products company’s stock worth $245,318,000 after purchasing an additional 475,256 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.
Shares of BLL stock traded down $0.77 during trading on Friday, reaching $82.47. The company’s stock had a trading volume of 1,729,122 shares, compared to its average volume of 1,512,993. The stock’s 50-day moving average price is $75.52 and its 200 day moving average price is $70.21. Ball Co. has a 1-year low of $51.26 and a 1-year high of $84.73. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.97 and a quick ratio of 0.64. The company has a market capitalization of $26.93 billion, a price-to-earnings ratio of 74.97, a P/E/G ratio of 5.96 and a beta of 0.54.
Ball (NYSE:BLL) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.88 billion. Ball had a net margin of 3.28% and a return on equity of 29.73%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, sell-side analysts anticipate that Ball Co. will post 2.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Monday, August 31st. Ball’s dividend payout ratio is currently 23.72%.
Several analysts have recently weighed in on the stock. Atlantic Securities began coverage on shares of Ball in a research note on Monday, June 1st. They issued a “neutral” rating and a $81.00 price target for the company. Citigroup lowered their price objective on Ball from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Zacks Investment Research upgraded Ball from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Monday, August 31st. Finally, Northland Securities reaffirmed a “buy” rating and issued a $80.00 price target on shares of Ball in a research note on Monday, May 11th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $80.00.
In other Ball news, VP Robert D. Strain sold 7,887 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $77.41, for a total transaction of $610,532.67. Following the completion of the transaction, the vice president now directly owns 69,978 shares of the company’s stock, valued at approximately $5,416,996.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jeff A. Knobel sold 35,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $72.98, for a total transaction of $2,554,300.00. Following the completion of the sale, the vice president now directly owns 65,425 shares of the company’s stock, valued at approximately $4,774,716.50. The disclosure for this sale can be found here. Insiders sold 45,933 shares of company stock valued at $3,396,481 in the last three months. 1.70% of the stock is currently 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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