State Street Corp raised its stake in shares of Ball Corporation (NYSE:BLL) by 97.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,936,539 shares of the industrial products company’s stock after purchasing an additional 7,386,379 shares during the period. State Street Corp owned 4.25% of Ball Corporation worth $630,475,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Ball Corporation by 104.6% during the second quarter. Vanguard Group Inc. now owns 35,339,156 shares of the industrial products company’s stock valued at $1,491,666,000 after purchasing an additional 18,062,724 shares during the last quarter. BlackRock Inc. grew its holdings in Ball Corporation by 104.4% during the second quarter. BlackRock Inc. now owns 21,051,051 shares of the industrial products company’s stock valued at $888,566,000 after purchasing an additional 10,752,597 shares during the last quarter. FMR LLC grew its holdings in Ball Corporation by 91.2% during the second quarter. FMR LLC now owns 18,275,730 shares of the industrial products company’s stock valued at $771,419,000 after purchasing an additional 8,716,359 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Ball Corporation by 111.7% during the second quarter. JPMorgan Chase & Co. now owns 14,936,002 shares of the industrial products company’s stock valued at $630,447,000 after purchasing an additional 7,881,436 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Ball Corporation by 118.9% during the second quarter. William Blair Investment Management LLC now owns 7,644,161 shares of the industrial products company’s stock valued at $322,660,000 after purchasing an additional 4,151,548 shares during the last quarter. Institutional investors own 86.43% of the company’s stock.
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Several equities analysts have commented on BLL shares. Jefferies Group LLC reiterated a “buy” rating and set a $47.00 price target on shares of Ball Corporation in a report on Sunday, June 25th. BidaskClub upgraded shares of Ball Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research upgraded shares of Ball Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Tuesday, July 4th. Deutsche Bank AG restated a “buy” rating and issued a $47.00 price objective (up previously from $44.00) on shares of Ball Corporation in a research note on Tuesday, July 18th. Finally, Barclays PLC raised their price objective on shares of Ball Corporation from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Ball Corporation currently has an average rating of “Hold” and an average price target of $44.15.
In other Ball Corporation news, Chairman John A. Hayes sold 5,655 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $41.19, for a total value of $232,929.45. Following the transaction, the chairman now directly owns 407,575 shares of the company’s stock, valued at approximately $16,788,014.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Lisa Ann Pauley sold 37,984 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $42.03, for a total value of $1,596,467.52. Following the completion of the transaction, the senior vice president now directly owns 108,905 shares in the company, valued at $4,577,277.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,601 shares of company stock worth $5,260,953. Insiders own 2.70% of the company’s stock.
Shares of Ball Corporation (BLL) opened at 42.47 on Wednesday. Ball Corporation has a 1-year low of $35.65 and a 1-year high of $43.06. The firm’s 50-day moving average is $40.62 and its 200-day moving average is $40.22. The firm has a market cap of $14.94 billion, a P/E ratio of 60.24 and a beta of 0.97.
Ball Corporation (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, analysts anticipate that Ball Corporation will post $2.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Wednesday, August 30th. Ball Corporation’s dividend payout ratio is 78.43%.
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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