Ball Co. (BLL) Shares Bought by Strs Ohio
Strs Ohio lifted its position in Ball Co. (NYSE:BLL) by 623.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,674 shares of the industrial products company’s stock after purchasing an additional 206,535 shares during the quarter. Strs Ohio owned approximately 0.07% of Ball worth $8,520,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Isthmus Partners LLC lifted its position in Ball by 0.8% during the 2nd quarter. Isthmus Partners LLC now owns 159,338 shares of the industrial products company’s stock worth $5,664,000 after acquiring an additional 1,317 shares during the period. Sumitomo Life Insurance Co. lifted its position in Ball by 4.8% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 31,755 shares of the industrial products company’s stock worth $1,129,000 after acquiring an additional 1,466 shares during the period. M&T Bank Corp lifted its position in Ball by 2.0% during the 1st quarter. M&T Bank Corp now owns 75,499 shares of the industrial products company’s stock worth $2,997,000 after acquiring an additional 1,501 shares during the period. Tiverton Asset Management LLC boosted its holdings in shares of Ball by 44.1% during the first quarter. Tiverton Asset Management LLC now owns 5,414 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 1,657 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in Ball by 17.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,210 shares of the industrial products company’s stock valued at $445,000 after acquiring an additional 1,669 shares during the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.
NYSE:BLL opened at $40.83 on Monday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.92 and a current ratio of 1.23. Ball Co. has a 12 month low of $34.71 and a 12 month high of $43.24. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 3.26 and a beta of 0.85.
Ball declared that its board has approved a stock repurchase plan on Wednesday, April 25th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.98%. The ex-dividend date is Friday, August 31st. Ball’s dividend payout ratio (DPR) is presently 19.61%.
In other Ball news, VP Scott C. Morrison sold 2,143 shares of the firm’s stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $35.80, for a total value of $76,719.40. Following the transaction, the vice president now directly owns 408,256 shares of the company’s stock, valued at $14,615,564.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.
A number of research analysts recently weighed in on BLL shares. TheStreet upgraded Ball from a “c+” rating to a “b-” rating in a report on Wednesday, August 1st. Citigroup reduced their target price on Ball from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, July 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $47.00 target price on shares of Ball in a report on Monday, August 6th. Barclays lifted their target price on Ball from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research upgraded Ball from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Two research analysts have 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 a consensus target price of $45.20.
Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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