Bain Capital Public Equity Management LLC Sells 313,092 Shares of Ball Corporation (BLL)
Bain Capital Public Equity Management LLC cut its position in shares of Ball Corporation (NYSE:BLL) by 49.6% during the fourth quarter, Holdings Channel reports. The fund owned 317,796 shares of the company’s stock after selling 313,092 shares during the period. Ball Corporation makes up about 1.7% of Bain Capital Public Equity Management LLC’s investment portfolio, making the stock its 23rd largest position. Bain Capital Public Equity Management LLC owned 0.18% of Ball Corporation worth $23,857,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLL. Latimer Light Capital L.P. bought a new position in Ball Corporation during the second quarter worth about $17,768,000. Highline Capital Management L.P. raised its position in Ball Corporation by 2.9% in the second quarter. Highline Capital Management L.P. now owns 1,279,900 shares of the company’s stock worth $92,524,000 after buying an additional 35,500 shares during the last quarter. Seven Locks Capital Management LP bought a new position in Ball Corporation during the second quarter worth about $13,695,000. Nicholas Co. Inc. WI raised its position in Ball Corporation by 0.6% in the second quarter. Nicholas Co. Inc. WI now owns 1,443,866 shares of the company’s stock worth $104,377,000 after buying an additional 9,010 shares during the last quarter. Finally, Sasco Capital Inc. CT raised its position in Ball Corporation by 28.3% in the second quarter. Sasco Capital Inc. CT now owns 1,675,417 shares of the company’s stock worth $121,116,000 after buying an additional 369,810 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ball Corporation (NYSE:BLL) traded down 0.19% during mid-day trading on Thursday, hitting $72.98. The stock had a trading volume of 1,396,877 shares. The company has a 50 day moving average price of $75.40 and a 200 day moving average price of $77.41. The firm has a market cap of $12.75 billion, a P/E ratio of 52.50 and a beta of 0.98. Ball Corporation has a 12-month low of $65.16 and a 12-month high of $82.24.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.55 billion. Ball Corporation had a return on equity of 18.44% and a net margin of 2.81%. The business’s revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. Equities analysts forecast that Ball Corporation will post $4.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, February 27th. Ball Corporation’s dividend payout ratio (DPR) is 30.23%.
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BLL has been the topic of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $93.00 price objective (down previously from $94.00) on shares of Ball Corporation in a report on Thursday, November 10th. Zacks Investment Research lowered Ball Corporation from a “buy” rating to a “hold” rating in a report on Monday, January 9th. J P Morgan Chase & Co set a $91.00 price objective on Ball Corporation and gave the stock a “buy” rating in a report on Thursday, December 8th. Deutsche Bank AG initiated coverage on Ball Corporation in a report on Monday, December 12th. They set a “buy” rating and a $86.00 price objective on the stock. Finally, TheStreet lowered Ball Corporation from a “b” rating to a “c+” rating in a report on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $85.25.
About Ball Corporation
Ball Corporation (Ball) 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. The Company operates in four segments: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies.
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