Fayez Sarofim & Co Has $455,000 Stake in Ball Co. (BLL)
Fayez Sarofim & Co continued to hold its position in Ball Co. (NYSE:BLL) during the first quarter, Holdings Channel reports. The fund owned 6,125 shares of the industrial products company’s stock at the end of the first quarter. Fayez Sarofim & Co’s holdings in Ball were worth $455,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Locust Wood Capital Advisers LLC boosted its position in Ball by 9.8% in the third quarter. Locust Wood Capital Advisers LLC now owns 393,353 shares of the industrial products company’s stock worth $32,235,000 after buying an additional 35,180 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Ball by 10.0% in the third quarter. Ameriprise Financial Inc. now owns 67,538 shares of the industrial products company’s stock worth $5,534,000 after buying an additional 6,118 shares during the last quarter. Morgan Stanley boosted its position in Ball by 72.4% in the third quarter. Morgan Stanley now owns 363,014 shares of the industrial products company’s stock worth $29,750,000 after buying an additional 152,439 shares during the last quarter. Highline Capital Management L.P. boosted its position in Ball by 16.2% in the third quarter. Highline Capital Management L.P. now owns 1,487,300 shares of the industrial products company’s stock worth $121,884,000 after buying an additional 207,400 shares during the last quarter. Finally, Dynamic Capital Management Ltd acquired a new position in Ball during the third quarter worth about $8,875,000. 83.42% of the stock is owned by hedge funds and other institutional investors.
Ball Co. (BLL) traded down 0.14% on Friday, hitting $41.36. The stock had a trading volume of 2,103,728 shares. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of 30.77 and a beta of 0.98. Ball Co. has a 52 week low of $39.34 and a 52 week high of $82.24. The company has a 50-day moving average price of $65.05 and a 200-day moving average price of $72.48.
Ball (NYSE:BLL) last issued its earnings results on Thursday, May 4th. The industrial products company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Ball had a return on equity of 18.44% and a net margin of 2.81%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $0.30 EPS. The firm’s revenue was up 40.8% compared to the same quarter last year. Equities research analysts anticipate that Ball Co. will post $2.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. This is a positive change from Ball’s previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, May 30th. Ball’s payout ratio is presently 30.23%.
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BLL has been the subject of a number of research analyst reports. Jefferies Group LLC decreased their target price on Ball from $46.50 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Vertical Research raised Ball from a “hold” rating to a “buy” rating in a research note on Friday, February 3rd. TheStreet cut Ball from a “b” rating to a “c+” rating in a research note on Thursday, February 2nd. KeyCorp reissued a “hold” rating on shares of Ball in a research note on Monday, February 6th. Finally, Goldman Sachs Group Inc initiated coverage on Ball in a research note on Thursday, March 2nd. They issued a “neutral” rating and a $40.00 target price for the company. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ball currently has an average rating of “Hold” and a consensus target price of $42.23.
In related news, Director Daniel J. Heinrich purchased 1,750 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was acquired at an average price of $72.27 per share, for a total transaction of $126,472.50. Following the purchase, the director now owns 3,373 shares of the company’s stock, valued at $243,766.71. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman John A. Hayes sold 2,717 shares of Ball stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $80.62, for a total value of $219,044.54. Following the transaction, the chairman now owns 206,255 shares of the company’s stock, valued at approximately $16,628,278.10. The disclosure for this sale can be found here. Insiders sold a total of 59,793 shares of company stock valued at $3,082,110 over the last ninety days. 3.50% of the stock is currently owned by corporate insiders.
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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