Raymond James Financial Services Advisors Inc. Grows Stake in Ball Corporation (BLL)

Raymond James Financial Services Advisors Inc. lifted its stake in shares of Ball Corporation (NYSE:BLL) by 100.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,957 shares of the industrial products company’s stock after purchasing an additional 58,566 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ball Corporation were worth $4,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC increased its stake in shares of Ball Corporation by 75.3% during the second quarter. Wedge Capital Management L L P NC now owns 193,962 shares of the industrial products company’s stock worth $8,187,000 after purchasing an additional 83,293 shares in the last quarter. Thomas White International Ltd. increased its stake in shares of Ball Corporation by 100.0% during the second quarter. Thomas White International Ltd. now owns 27,410 shares of the industrial products company’s stock worth $1,157,000 after purchasing an additional 13,705 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ball Corporation by 111.7% during the second quarter. JPMorgan Chase & Co. now owns 14,936,002 shares of the industrial products company’s stock worth $630,447,000 after purchasing an additional 7,881,436 shares in the last quarter. KBC Group NV increased its stake in shares of Ball Corporation by 100.0% during the second quarter. KBC Group NV now owns 53,272 shares of the industrial products company’s stock worth $2,248,000 after purchasing an additional 26,636 shares in the last quarter. Finally, Fragasso Group Inc. increased its stake in shares of Ball Corporation by 79.9% during the second quarter. Fragasso Group Inc. now owns 37,740 shares of the industrial products company’s stock worth $1,593,000 after purchasing an additional 16,761 shares in the last quarter. 86.43% of the stock is owned by institutional investors and hedge funds.

BLL has been the subject of a number of research reports. Jefferies Group LLC reissued a “buy” rating and set a $47.00 target price on shares of Ball Corporation in a research note on Sunday, June 25th. BidaskClub raised shares of Ball Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Deutsche Bank AG reissued a “buy” rating and set a $47.00 target price (up previously from $44.00) on shares of Ball Corporation in a research note on Tuesday, July 18th. Zacks Investment Research cut shares of Ball Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada initiated coverage on shares of Ball Corporation in a research note on Monday. They set an “outperform” rating and a $46.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Ball Corporation has an average rating of “Hold” and an average price target of $44.23.

In other Ball Corporation news, SVP Lisa Ann Pauley sold 39,241 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $39.10, for a total value of $1,534,323.10. Following the completion of the sale, the senior vice president now directly owns 108,905 shares of the company’s stock, valued at approximately $4,258,185.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John A. Hayes sold 5,655 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $41.19, for a total transaction of $232,929.45. Following the completion of the sale, the chairman now directly owns 407,575 shares of the company’s stock, valued at $16,788,014.25. The disclosure for this sale can be found here. Insiders sold 129,601 shares of company stock valued at $5,260,953 in the last ninety days. Corporate insiders own 2.70% of the company’s stock.

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Shares of Ball Corporation (NYSE:BLL) traded up 0.38% during mid-day trading on Friday, hitting $42.41. 141,613 shares of the company traded hands. The firm has a 50-day moving average price of $40.77 and a 200 day moving average price of $40.25. Ball Corporation has a 52-week low of $35.65 and a 52-week high of $43.06. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 52.04 and a beta of 0.97.

Ball Corporation (NYSE:BLL) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.81 billion. Ball Corporation had a return on equity of 17.63% and a net margin of 1.70%. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. Equities research analysts anticipate that Ball Corporation will post $2.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.95%. The ex-dividend date was Wednesday, August 30th. Ball Corporation’s payout ratio is currently 78.43%.

Ball Corporation Company Profile

Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.

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

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