Mycio Wealth Partners LLC acquired a new stake in shares of Ball Co. (NYSE:BLL) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,000 shares of the industrial products company’s stock, valued at approximately $210,000.
Several other hedge funds have also modified their holdings of the company. Next Capital Management LLC bought a new position in Ball in the 2nd quarter worth $25,000. Pearl River Capital LLC bought a new position in Ball in the 1st quarter worth $30,000. Whittier Trust Co. boosted its holdings in Ball by 56.0% in the 2nd quarter. Whittier Trust Co. now owns 496 shares of the industrial products company’s stock worth $35,000 after buying an additional 178 shares during the period. YorkBridge Wealth Partners LLC bought a new position in Ball in the 1st quarter worth $56,000. Finally, Larson Financial Group LLC bought a new position in Ball in the 2nd quarter worth $56,000. 79.67% of the stock is owned by hedge funds and other institutional investors.
Shares of BLL traded down $0.30 during midday trading on Thursday, hitting $79.43. 19,929 shares of the company traded hands, compared to its average volume of 2,014,836. The firm has a 50 day moving average of $73.63 and a 200-day moving average of $63.24. Ball Co. has a 52 week low of $40.39 and a 52 week high of $80.66. The stock has a market cap of $26.47 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 5.61 and a beta of 0.80. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.81 and a current ratio of 1.10.
Ball (NYSE:BLL) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). Ball had a net margin of 4.54% and a return on equity of 21.32%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the company earned $0.58 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts predict that Ball Co. will post 2.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, August 30th. Ball’s dividend payout ratio (DPR) is presently 27.27%.
BLL has been the subject of several recent analyst reports. KeyCorp reaffirmed a “hold” rating on shares of Ball in a report on Friday, August 2nd. Zacks Investment Research raised shares of Ball from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Wells Fargo & Co downgraded shares of Ball from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $68.00 to $72.00 in a report on Monday, August 5th. UBS Group upped their target price on shares of Ball from $60.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Vertical Research downgraded shares of Ball from a “hold” rating to a “sell” rating in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.46.
In other Ball news, Chairman John A. Hayes sold 9,247 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $65.19, for a total transaction of $602,811.93. Following the completion of the transaction, the chairman now owns 439,485 shares of the company’s stock, valued at approximately $28,650,027.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott C. Morrison sold 17,224 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $76.40, for a total transaction of $1,315,913.60. Following the transaction, the vice president now directly owns 442,361 shares of the company’s stock, valued at approximately $33,796,380.40. The disclosure for this sale can be found here. Insiders have sold a total of 130,701 shares of company stock valued at $9,918,461 in the last three months. Insiders own 1.80% of the company’s stock.
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.
Further Reading: Growth and Income Funds
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