Seeyond boosted its stake in Ball Co. (NYSE:BLL) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,119 shares of the industrial products company’s stock after purchasing an additional 117 shares during the quarter. Seeyond’s holdings in Ball were worth $2,116,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Strategic Blueprint LLC acquired a new position in Ball in the second quarter valued at about $28,000. CSat Investment Advisory L.P. raised its stake in Ball by 66.7% in the first quarter. CSat Investment Advisory L.P. now owns 350 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 140 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ball in the second quarter valued at about $30,000. Clean Yield Group acquired a new position in Ball in the second quarter valued at about $36,000. Finally, Close Asset Management Ltd raised its stake in Ball by 125.0% in the second quarter. Close Asset Management Ltd now owns 450 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 250 shares in the last quarter. 80.59% of the stock is owned by institutional investors and hedge funds.
In other Ball news, insider David A. Kaufman sold 1,060 shares of Ball stock in a transaction on Friday, August 27th. The stock was sold at an average price of $94.58, for a total transaction of $100,254.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Ann Pauley sold 17,773 shares of Ball stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $88.95, for a total value of $1,580,908.35. The disclosure for this sale can be found here. Insiders acquired a total of 11,200 shares of company stock worth $1,020,152 over the last ninety days. Insiders own 1.60% of the company’s stock.
Ball (NYSE:BLL) last announced its quarterly earnings results on Thursday, August 5th. The industrial products company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Ball had a return on equity of 32.37% and a net margin of 6.81%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. As a group, sell-side analysts forecast that Ball Co. will post 3.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were paid a $0.20 dividend. This is a boost from Ball’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, August 31st. Ball’s payout ratio is 26.94%.
BLL has been the subject of several research analyst reports. Loop Capital initiated coverage on Ball in a research note on Tuesday, October 5th. They set a “buy” rating and a $118.00 target price for the company. Zacks Investment Research downgraded Ball from a “buy” rating to a “hold” rating and set a $102.00 target price for the company. in a research note on Thursday, September 2nd. Truist started coverage on Ball in a research note on Monday, September 13th. They set a “hold” rating and a $102.00 target price for the company. They noted that the move was a valuation call. Robert W. Baird restated a “hold” rating and set a $85.00 price target on shares of Ball in a report on Friday, August 6th. Finally, Bank of America cut Ball from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $101.00 to $95.00 in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Ball currently has an average rating of “Hold” and an average price target of $102.85.
Ball Company Profile
Ball Corp. provides metal packaging for beverages, foods and household products. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; and Aerospace. The Beverage Packaging, North and Central America segment sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.
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