JPMorgan Chase & Co. increased its stake in Ball Corporation (NYSE:BLL) by 111.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,936,002 shares of the industrial products company’s stock after purchasing an additional 7,881,436 shares during the period. JPMorgan Chase & Co. owned approximately 4.25% of Ball Corporation worth $630,447,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cleararc Capital Inc. increased its position in shares of Ball Corporation by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,297 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 38 shares during the period. Fifth Third Bancorp boosted its stake in Ball Corporation by 2.1% in the first quarter. Fifth Third Bancorp now owns 3,646 shares of the industrial products company’s stock valued at $271,000 after buying an additional 75 shares in the last quarter. Creative Planning boosted its stake in Ball Corporation by 3.3% in the first quarter. Creative Planning now owns 2,720 shares of the industrial products company’s stock valued at $202,000 after buying an additional 86 shares in the last quarter. HCR Wealth Advisors boosted its stake in Ball Corporation by 2.1% in the first quarter. HCR Wealth Advisors now owns 4,902 shares of the industrial products company’s stock valued at $344,000 after buying an additional 101 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Ball Corporation by 0.8% in the first quarter. HighTower Advisors LLC now owns 14,201 shares of the industrial products company’s stock valued at $1,055,000 after buying an additional 109 shares in the last quarter. Institutional investors own 86.36% of the company’s stock.
In other news, VP Jeff A. Knobel sold 5,218 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $40.12, for a total transaction of $209,346.16. Following the transaction, the vice president now directly owns 68,138 shares of the company’s stock, valued at $2,733,696.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Scott C. Morrison sold 13,249 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $40.35, for a total value of $534,597.15. Following the transaction, the vice president now directly owns 392,091 shares in the company, valued at $15,820,871.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,325 shares of company stock valued at $4,641,057. 2.70% of the stock is owned by company insiders.
Shares of Ball Corporation (BLL) opened at 40.53 on Friday. The firm has a 50-day moving average price of $40.35 and a 200-day moving average price of $39.64. The company has a market capitalization of $14.26 billion, a P/E ratio of 57.49 and a beta of 0.96. Ball Corporation has a one year low of $35.65 and a one year high of $43.06.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. Equities analysts forecast that Ball Corporation will post $2.03 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date was Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. Ball Corporation’s dividend payout ratio is currently 78.43%.
BLL has been the topic of several research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Ball Corporation in a research note on Sunday, June 25th. BidaskClub raised Ball Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Deutsche Bank AG reissued a “buy” rating and set a $47.00 price target (up from $44.00) on shares of Ball Corporation in a research note on Tuesday, July 18th. Zacks Investment Research lowered Ball Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Barclays PLC lifted their price target on Ball Corporation from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $44.05.
Ball Corporation 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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