Nomura Asset Management Co. Ltd. Sells 1,719 Shares of Ball Co. (BLL)
Nomura Asset Management Co. Ltd. reduced its stake in shares of Ball Co. (NYSE:BLL) by 3.5% during the 2nd quarter, Holdings Channel reports. The firm owned 47,946 shares of the industrial products company’s stock after selling 1,719 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Ball were worth $1,705,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Ball by 32.3% during the 1st quarter. JPMorgan Chase & Co. now owns 22,174,838 shares of the industrial products company’s stock worth $880,562,000 after purchasing an additional 5,409,589 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Ball by 0.9% during the 1st quarter. BlackRock Inc. now owns 21,517,763 shares of the industrial products company’s stock worth $854,472,000 after purchasing an additional 194,319 shares during the last quarter. Manning & Napier Group LLC boosted its holdings in shares of Ball by 56.9% during the 1st quarter. Manning & Napier Group LLC now owns 3,944,675 shares of the industrial products company’s stock worth $156,641,000 after purchasing an additional 1,430,747 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Ball by 1.6% during the 1st quarter. Victory Capital Management Inc. now owns 3,172,184 shares of the industrial products company’s stock worth $125,968,000 after purchasing an additional 49,713 shares during the last quarter. Finally, Cooke & Bieler LP boosted its holdings in shares of Ball by 22.0% during the 2nd quarter. Cooke & Bieler LP now owns 2,738,645 shares of the industrial products company’s stock worth $97,359,000 after purchasing an additional 493,258 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.
A number of research analysts recently commented on BLL shares. KeyCorp reiterated a “hold” rating on shares of Ball in a report on Thursday, May 3rd. TheStreet cut Ball from a “b” rating to a “c+” rating in a report on Thursday, May 3rd. Zacks Investment Research upgraded Ball from a “sell” rating to a “hold” rating in a report on Monday, May 7th. ValuEngine cut Ball from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 16th. Finally, Citigroup decreased their price objective on Ball from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, July 10th. Two equities 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.20.
Ball (NYSE:BLL) last released its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Ball had a return on equity of 19.93% and a net margin of 4.12%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. analysts anticipate that Ball Co. will post 2.25 EPS for the current year.
The company also recently announced 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 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, August 31st. Ball’s payout ratio is 19.61%.
Ball announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 25th that permits the company to repurchase 25,000,000 outstanding shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Ball news, VP Scott C. Morrison sold 2,143 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $35.80, for a total value of $76,719.40. Following the sale, the vice president now owns 408,256 shares of the company’s stock, valued at $14,615,564.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.
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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