Ameriprise Financial Inc. Buys 1,844,800 Shares of Ball Corporation (BLL)
Ameriprise Financial Inc. raised its stake in shares of Ball Corporation (NYSE:BLL) by 2,859.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,909,311 shares of the industrial products company’s stock after buying an additional 1,844,800 shares during the period. Ameriprise Financial Inc. owned about 0.54% of Ball Corporation worth $80,592,000 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. Nationwide Fund Advisors raised its stake in shares of Ball Corporation by 4.7% during the 1st quarter. Nationwide Fund Advisors now owns 49,988 shares of the industrial products company’s stock valued at $3,712,000 after buying an additional 2,249 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Ball Corporation by 9.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 455,651 shares of the industrial products company’s stock valued at $33,837,000 after buying an additional 40,797 shares during the last quarter. Sei Investments Co. raised its stake in shares of Ball Corporation by 49.8% during the 1st quarter. Sei Investments Co. now owns 53,079 shares of the industrial products company’s stock valued at $3,942,000 after buying an additional 17,657 shares during the last quarter. State of Wisconsin Investment Board raised its stake in shares of Ball Corporation by 23.8% during the 1st quarter. State of Wisconsin Investment Board now owns 95,145 shares of the industrial products company’s stock valued at $7,065,000 after buying an additional 18,312 shares during the last quarter. Finally, Airain ltd purchased a new position in shares of Ball Corporation during the 1st quarter valued at about $281,000. Institutional investors and hedge funds own 86.43% of the company’s stock.
A number of research firms have weighed in on BLL. Jefferies Group LLC reiterated a “buy” rating and set a $49.00 price objective (down previously from $50.00) on shares of Ball Corporation in a research note on Wednesday, August 9th. Vertical Group reiterated a “hold” rating and set a $43.00 price objective (up previously from $41.50) on shares of Ball Corporation in a research note on Wednesday, August 9th. Barclays PLC lifted their price objective on Ball Corporation from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. BidaskClub lowered Ball Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research upgraded Ball Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.05.
In other Ball Corporation news, Chairman John A. Hayes sold 5,683 shares of the stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $42.23, for a total value of $239,993.09. Following the completion of the transaction, the chairman now directly owns 407,562 shares of the company’s stock, valued at $17,211,343.26. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Daniel William Fisher sold 1,750 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $41.77, for a total transaction of $73,097.50. Following the completion of the transaction, the chief operating officer now directly owns 11,594 shares of the company’s stock, valued at $484,281.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,325 shares of company stock valued at $4,641,057. 2.70% of the stock is owned by insiders.
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Shares of Ball Corporation (NYSE:BLL) opened at 40.78 on Tuesday. Ball Corporation has a 1-year low of $35.65 and a 1-year high of $43.06. The stock has a market capitalization of $14.35 billion, a price-to-earnings ratio of 57.84 and a beta of 0.96. The firm’s 50-day moving average price is $40.32 and its 200 day moving average price is $39.71.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.02). The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.81 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. Ball Corporation’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. Equities research analysts expect that Ball Corporation will post $2.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.98%. 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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