Keybank National Association OH Increases Stake in Ball Corporation (BLL)
Keybank National Association OH raised its position in Ball Corporation (NYSE:BLL) by 90.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,817 shares of the industrial products company’s stock after buying an additional 28,468 shares during the period. Keybank National Association OH’s holdings in Ball Corporation were worth $2,525,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in Ball Corporation during the second quarter worth $684,000. Svenska Handelsbanken AB publ raised its position in Ball Corporation by 100.0% in the second quarter. Svenska Handelsbanken AB publ now owns 17,800 shares of the industrial products company’s stock worth $751,000 after buying an additional 8,900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Ball Corporation by 217.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,470 shares of the industrial products company’s stock worth $3,565,000 after buying an additional 57,859 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Ball Corporation by 90.5% in the second quarter. Neuberger Berman Group LLC now owns 59,699 shares of the industrial products company’s stock worth $2,520,000 after buying an additional 28,355 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Ball Corporation by 82.1% in the second quarter. Pacer Advisors Inc. now owns 6,266 shares of the industrial products company’s stock worth $264,000 after buying an additional 2,825 shares in the last quarter. 86.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ball Corporation (NYSE BLL) opened at 39.99 on Friday. The company has a 50-day moving average of $40.97 and a 200 day moving average of $39.38. The firm has a market cap of $14.07 billion, a P/E ratio of 56.72 and a beta of 0.95. Ball Corporation has a 12-month low of $35.65 and a 12-month high of $43.06.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. Equities research analysts anticipate that Ball Corporation will post $2.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, August 30th. Ball Corporation’s payout ratio is 78.43%.
A number of brokerages have recently issued reports on BLL. Zacks Investment Research upgraded shares of Ball Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Tuesday, July 4th. Vertical Research downgraded shares of Ball Corporation from a “buy” rating to a “hold” rating and set a $41.50 price target for the company. in a report on Friday, May 5th. ValuEngine upgraded shares of Ball Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 18th. Jefferies Group LLC raised their price target on shares of Ball Corporation from $45.00 to $47.50 and gave the stock a “buy” rating in a report on Friday, May 5th. Finally, BidaskClub upgraded shares of Ball Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $44.05.
In related news, Chairman John A. Hayes sold 5,622 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $41.10, for a total transaction of $231,064.20. Following the completion of the transaction, the chairman now owns 412,623 shares of the company’s stock, valued at $16,958,805.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel William Fisher sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $41.77, for a total transaction of $73,097.50. Following the transaction, the chief operating officer now directly owns 11,594 shares of the company’s stock, valued at approximately $484,281.38. The disclosure for this sale can be found here. Insiders have sold 130,144 shares of company stock worth $5,311,893 in the last three months. Insiders own 2.70% of the company’s stock.
About Ball Corporation
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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