Norris Perne & French LLP MI Acquires 2,321 Shares of Ball Corp. (BLL)
Norris Perne & French LLP MI boosted its position in shares of Ball Corp. (NYSE:BLL) by 8.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,191 shares of the company’s stock after buying an additional 2,321 shares during the period. Norris Perne & French LLP MI’s holdings in Ball Corp. were worth $2,182,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Samlyn Capital LLC bought a new position in shares of Ball Corp. during the first quarter worth about $59,717,000. Renaissance Technologies LLC increased its position in shares of Ball Corp. by 114.2% in the first quarter. Renaissance Technologies LLC now owns 559,264 shares of the company’s stock worth $39,870,000 after buying an additional 298,200 shares during the last quarter. Legal & General Group Plc increased its position in shares of Ball Corp. by 1.4% in the first quarter. Legal & General Group Plc now owns 599,614 shares of the company’s stock worth $42,748,000 after buying an additional 8,105 shares during the last quarter. Pioneer Investment Management Inc. bought a new position in shares of Ball Corp. during the fourth quarter worth about $15,063,000. Finally, Geode Capital Management LLC increased its position in shares of Ball Corp. by 5.5% in the first quarter. Geode Capital Management LLC now owns 1,128,737 shares of the company’s stock worth $80,306,000 after buying an additional 58,400 shares during the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.
Ball Corp. (NYSE:BLL) traded down 0.11% on Monday, reaching $78.37. The company had a trading volume of 1,207,176 shares. Ball Corp. has a 52-week low of $60.30 and a 52-week high of $81.25. The company’s 50-day moving average is $78.74 and its 200-day moving average is $73.38. The company has a market capitalization of $13.65 billion, a PE ratio of 36.12 and a beta of 1.11.
Ball Corp. (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm earned $2.03 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Ball Corp. had a return on equity of 27.28% and a net margin of 4.45%. Ball Corp.’s revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. Equities analysts anticipate that Ball Corp. will post $3.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.52 annualized dividend and a yield of 0.66%. Ball Corp.’s dividend payout ratio is presently 22.13%.
A number of brokerages have issued reports on BLL. JPMorgan Chase & Co. reissued a “buy” rating on shares of Ball Corp. in a report on Saturday, July 9th. Jefferies Group boosted their price target on Ball Corp. from $86.00 to $94.00 and gave the company a “buy” rating in a report on Friday, August 5th. TheStreet raised Ball Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Robert W. Baird reissued an “outperform” rating and issued a $85.00 price target on shares of Ball Corp. in a report on Sunday, August 7th. Finally, Vertical Research downgraded Ball Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Ball Corp. currently has a consensus rating of “Buy” and a consensus price target of $82.57.
In other news, Chairman John A. Hayes acquired 2,400 shares of Ball Corp. stock in a transaction that occurred on Monday, August 8th. The stock was purchased at an average cost of $79.31 per share, with a total value of $190,344.00. Following the completion of the acquisition, the chairman now owns 178,620 shares in the company, valued at approximately $14,166,352.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Alspaugh acquired 3,000 shares of Ball Corp. stock in a transaction that occurred on Monday, August 8th. The shares were purchased at an average cost of $79.27 per share, with a total value of $237,810.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $39,635. The disclosure for this purchase can be found here. Corporate insiders own 3.50% of the company’s stock.
About Ball Corp.
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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