Capstone Asset Management Co. increased its position in shares of Ball Corporation (NYSE:BLL) by 91.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,710 shares of the industrial products company’s stock after buying an additional 12,790 shares during the period. Capstone Asset Management Co.’s holdings in Ball Corporation were worth $1,127,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in BLL. BlackRock Inc. increased its stake in shares of Ball Corporation by 2,907.6% in the first quarter. BlackRock Inc. now owns 10,298,454 shares of the industrial products company’s stock worth $764,763,000 after buying an additional 9,956,034 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Ball Corporation by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 7,054,566 shares of the industrial products company’s stock worth $523,873,000 after buying an additional 962,025 shares during the period. Iridian Asset Management LLC CT bought a new stake in shares of Ball Corporation during the first quarter worth approximately $69,447,000. SPF Beheer BV increased its stake in shares of Ball Corporation by 106.7% in the second quarter. SPF Beheer BV now owns 1,739,920 shares of the industrial products company’s stock worth $73,442,000 after buying an additional 898,244 shares during the period. Finally, William Blair Investment Management LLC increased its stake in shares of Ball Corporation by 25.8% in the first quarter. William Blair Investment Management LLC now owns 3,492,613 shares of the industrial products company’s stock worth $259,361,000 after buying an additional 715,352 shares during the period. Institutional investors own 44.63% of the company’s stock.
Ball Corporation (NYSE BLL) traded up 0.322% during trading on Tuesday, hitting $42.035. 856,312 shares of the stock were exchanged. Ball Corporation has a 12-month low of $34.89 and a 12-month high of $43.06. The firm has a market capitalization of $14.76 billion, a PE ratio of 31.276 and a beta of 0.96. The stock has a 50 day moving average price of $42.03 and a 200-day moving average price of $39.00.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Ball Corporation had a net margin of 4.59% and a return on equity of 16.46%. The business’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. On average, equities research analysts anticipate that Ball Corporation will post $2.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. Ball Corporation’s payout ratio is 26.67%.
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BLL has been the subject of a number of recent research reports. ValuEngine downgraded Ball Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded Ball Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Jefferies Group LLC reiterated a “buy” rating and set a $47.00 price objective on shares of Ball Corporation in a research report on Sunday, June 25th. BidaskClub upgraded Ball Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Finally, BMO Capital Markets reissued a “hold” rating and set a $39.50 target price on shares of Ball Corporation in a research note on Wednesday, April 12th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Ball Corporation has an average rating of “Hold” and a consensus price target of $43.90.
In related news, COO Daniel William Fisher sold 1,000 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $79.75, for a total transaction of $79,750.00. Following the sale, the chief operating officer now directly owns 4,922 shares in the company, valued at $392,529.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman John A. Hayes sold 5,683 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $42.23, for a total transaction of $239,993.09. Following the sale, the chairman now owns 407,562 shares in the company, valued at $17,211,343.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,732 shares of company stock worth $3,309,230. 2.70% of the stock is currently owned by company insiders.
Ball Corporation Company Profile
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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