Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Ball Corporation (NYSE:BLL) by 103.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 671,853 shares of the industrial products company’s stock after buying an additional 342,309 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.19% of Ball Corporation worth $28,359,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Ball Corporation by 100.0% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,450 shares of the industrial products company’s stock worth $103,000 after acquiring an additional 1,225 shares in the last quarter. American Research & Management Co. raised its position in shares of Ball Corporation by 100.0% during the 2nd quarter. American Research & Management Co. now owns 2,800 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 1,400 shares during the last quarter. Korea Investment CORP raised its position in shares of Ball Corporation by 385.5% during the 2nd quarter. Korea Investment CORP now owns 3,083 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 2,448 shares during the last quarter. Ledyard National Bank raised its position in shares of Ball Corporation by 520.0% during the 2nd quarter. Ledyard National Bank now owns 3,100 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 2,600 shares during the last quarter. Finally, First Personal Financial Services raised its position in shares of Ball Corporation by 17.1% during the 1st quarter. First Personal Financial Services now owns 1,797 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 262 shares during the last quarter. 86.36% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on BLL shares. ValuEngine cut shares of Ball Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $47.00 price target on shares of Ball Corporation in a research report on Sunday, June 25th. Zacks Investment Research cut shares of Ball Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Deutsche Bank AG reissued a “buy” rating and issued a $47.00 price objective (up from $44.00) on shares of Ball Corporation in a research report on Tuesday, July 18th. Finally, BidaskClub lowered shares of Ball Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Ball Corporation currently has an average rating of “Hold” and an average price target of $44.05.
In other news, VP Jeff A. Knobel sold 5,218 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.12, for a total transaction of $209,346.16. Following the sale, the vice president now directly owns 68,138 shares in the company, valued at $2,733,696.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Scott C. Morrison sold 13,249 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $40.35, for a total value of $534,597.15. Following the sale, the vice president now owns 392,091 shares in the company, valued at $15,820,871.85. The disclosure for this sale can be found here. Insiders have sold a total of 114,325 shares of company stock worth $4,641,057 over the last ninety days. Insiders own 2.70% of the company’s stock.
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Shares of Ball Corporation (BLL) traded up 0.30% during mid-day trading on Friday, reaching $40.53. 2,115,281 shares of the company were exchanged. The stock has a market capitalization of $14.26 billion, a P/E ratio of 57.49 and a beta of 0.96. The firm has a 50-day moving average price of $40.35 and a 200 day moving average price of $39.64. Ball Corporation has a 12 month low of $35.65 and a 12 month high of $43.06.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). Ball Corporation had a return on equity of 17.63% and a net margin of 1.70%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the business earned $1.05 EPS. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. Equities research analysts anticipate that Ball Corporation will post $2.03 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend 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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