Westpac Banking Corp Has $6,912,000 Stake in Ball Corp. (BLL)
Westpac Banking Corp decreased its position in Ball Corp. (NYSE:BLL) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 95,616 shares of the company’s stock after selling 1,982 shares during the period. Westpac Banking Corp owned about 0.07% of Ball Corp. worth $6,912,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. increased its position in shares of Ball Corp. by 129.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,715 shares of the company’s stock worth $124,000 after buying an additional 968 shares during the last quarter. Investec Asset Management LTD purchased a new position in shares of Ball Corp. during the first quarter worth approximately $217,000. Daiwa Securities Group Inc. increased its position in shares of Ball Corp. by 10.0% in the second quarter. Daiwa Securities Group Inc. now owns 3,300 shares of the company’s stock worth $239,000 after buying an additional 300 shares during the last quarter. Conning Inc. increased its position in shares of Ball Corp. by 0.3% in the second quarter. Conning Inc. now owns 3,364 shares of the company’s stock worth $243,000 after buying an additional 10 shares during the last quarter. Finally, Cleararc Capital Inc. increased its position in shares of Ball Corp. by 4.3% in the first quarter. Cleararc Capital Inc. now owns 3,468 shares of the company’s stock worth $247,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.
Shares of Ball Corp. (NYSE:BLL) traded up 0.11% during midday trading on Monday, hitting $78.55. 64,044 shares of the stock were exchanged. The firm has a 50-day moving average price of $77.94 and a 200-day moving average price of $73.08. Ball Corp. has a 12-month low of $60.30 and a 12-month high of $81.25. The company has a market cap of $13.69 billion, a PE ratio of 36.20 and a beta of 1.11.
Ball Corp. (NYSE:BLL) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.06. The business earned $2.03 billion during the quarter, compared to analyst estimates of $2.17 billion. Ball Corp. had a net margin of 4.45% and a return on equity of 27.28%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period last year, the business earned $0.89 EPS. On average, equities analysts predict that Ball Corp. will post $3.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, August 30th. Ball Corp.’s dividend payout ratio is currently 22.13%.
A number of equities analysts recently commented on BLL shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Ball Corp. in a research note on Saturday, July 9th. Bank of America Corp. reiterated a “buy” rating and set a $80.00 target price on shares of Ball Corp. in a research note on Thursday, July 7th. Jefferies Group reissued a “buy” rating and issued a $86.00 price target on shares of Ball Corp. in a research report on Tuesday, July 5th. TheStreet raised shares of Ball Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Finally, Barclays PLC began coverage on shares of Ball Corp. in a research report on Thursday, July 14th. They issued an “equal weight” rating and a $75.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $82.57.
In related news, COO Erik Bouts acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was bought at an average cost of $79.41 per share, with a total value of $794,100.00. Following the acquisition, the chief operating officer now directly owns 5,988 shares in the company, valued at $475,507.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman John A. Hayes acquired 2,400 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were bought 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 $14,166,352.20. The disclosure for this purchase can be found here. Company insiders own 3.50% of the company’s stock.
Ball Corp. Company Profile
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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