Indiana Trust & Investment Management CO trimmed its position in shares of Ball Co. (NYSE:BLL) by 1.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,855 shares of the industrial products company’s stock after selling 900 shares during the period. Ball makes up approximately 3.6% of Indiana Trust & Investment Management CO’s investment portfolio, making the stock its 6th largest position. Indiana Trust & Investment Management CO’s holdings in Ball were worth $6,682,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Ball in the 4th quarter valued at approximately $272,441,000. BlackRock Inc. boosted its stake in shares of Ball by 3.4% in the 4th quarter. BlackRock Inc. now owns 25,915,195 shares of the industrial products company’s stock valued at $2,414,778,000 after purchasing an additional 847,276 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new stake in shares of Ball in the 4th quarter valued at approximately $71,938,000. Artisan Partners Limited Partnership boosted its stake in shares of Ball by 38.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,025,637 shares of the industrial products company’s stock valued at $188,749,000 after purchasing an additional 560,783 shares in the last quarter. Finally, PGGM Investments acquired a new stake in shares of Ball in the 4th quarter valued at approximately $39,134,000. Hedge funds and other institutional investors own 82.12% of the company’s stock.
A number of equities research analysts have recently weighed in on BLL shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ball from $107.00 to $102.00 and set a “buy” rating on the stock in a research note on Wednesday, January 20th. Robert W. Baird downgraded shares of Ball from an “outperform” rating to a “neutral” rating and set a $105.00 price target on the stock. in a research note on Monday, January 4th. Finally, Zacks Investment Research downgraded shares of Ball from a “buy” rating to a “hold” rating and set a $96.00 target price on the stock. in a research report on Tuesday, January 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $99.47.
Ball (NYSE:BLL) last released its quarterly earnings results on Wednesday, February 3rd. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. Ball had a net margin of 4.54% and a return on equity of 33.14%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business earned $0.71 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. As a group, analysts forecast that Ball Co. will post 2.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 1st were issued a dividend of $0.15 per share. The ex-dividend date was Friday, February 26th. This represents a $0.60 annualized dividend and a yield of 0.69%. Ball’s payout ratio is 23.72%.
In other news, VP Scott C. Morrison sold 8,653 shares of Ball stock in a transaction on Thursday, March 18th. The shares were sold at an average price of $82.50, for a total value of $713,872.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.
Ball Company Profile
Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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