Tyers Asset Management LLC decreased its position in shares of Ball Co. (NYSE:BLL) by 55.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,384 shares of the industrial products company’s stock after selling 23,328 shares during the period. Tyers Asset Management LLC’s holdings in Ball were worth $1,287,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp boosted its stake in shares of Ball by 0.4% in the second quarter. Northern Trust Corp now owns 3,733,953 shares of the industrial products company’s stock valued at $261,340,000 after purchasing an additional 16,255 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Ball by 10.4% during the second quarter. Canada Pension Plan Investment Board now owns 662,601 shares of the industrial products company’s stock worth $46,375,000 after acquiring an additional 62,586 shares during the period. USA Financial Portformulas Corp raised its stake in shares of Ball by 33.1% in the second quarter. USA Financial Portformulas Corp now owns 33,735 shares of the industrial products company’s stock valued at $1,952,000 after acquiring an additional 8,389 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Ball by 1.4% in the second quarter. Brown Advisory Inc. now owns 1,419,962 shares of the industrial products company’s stock valued at $99,384,000 after acquiring an additional 19,321 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Ball by 8.0% in the second quarter. Pacer Advisors Inc. now owns 32,037 shares of the industrial products company’s stock valued at $2,242,000 after purchasing an additional 2,365 shares during the period. 82.90% of the stock is currently owned by hedge funds and other institutional investors.
BLL has been the topic of several recent research reports. Vertical Research downgraded Ball from a “hold” rating to a “sell” rating in a report on Monday, July 8th. Morgan Stanley lifted their price objective on Ball from $71.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. KeyCorp reissued a “hold” rating on shares of Ball in a research report on Friday, August 2nd. Citigroup raised their target price on shares of Ball from $81.00 to $86.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, ValuEngine downgraded shares of Ball from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.46.
Shares of BLL traded up $0.06 during mid-day trading on Wednesday, reaching $71.95. The company’s stock had a trading volume of 196,975 shares, compared to its average volume of 1,809,136. Ball Co. has a 12-month low of $42.24 and a 12-month high of $81.88. The stock has a market cap of $24.92 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 5.28 and a beta of 0.75. 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 company’s 50 day moving average is $76.87 and its 200 day moving average is $65.74.
Ball (NYSE:BLL) last posted its earnings results on Thursday, August 1st. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Ball had a return on equity of 21.32% and a net margin of 4.54%. Ball’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 earned $0.58 EPS. As a group, sell-side analysts anticipate that Ball Co. will post 2.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. Ball’s payout ratio is currently 27.27%.
In other news, COO Daniel William Fisher sold 4,745 shares of Ball stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $79.79, for a total transaction of $378,603.55. Following the sale, the chief operating officer now owns 34,045 shares in the company, valued at $2,716,450.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nate C. Carey sold 7,000 shares of Ball stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $79.59, for a total value of $557,130.00. Following the sale, the vice president now owns 13,090 shares in the company, valued at approximately $1,041,833.10. The disclosure for this sale can be found here. Insiders have sold a total of 137,974 shares of company stock valued at $10,688,411 in the last 90 days. Insiders own 1.80% of the company’s stock.
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.
Read More: What is a dead cat bounce?
Receive News & Ratings for Ball Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ball and related companies with MarketBeat.com's FREE daily email newsletter.