MANA Advisors LLC acquired a new position in shares of Ball Co. (NYSE:BLL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 50,282 shares of the industrial products company’s stock, valued at approximately $1,903,000. Ball comprises about 0.8% of MANA Advisors LLC’s investment portfolio, making the stock its 9th biggest position.
A number of other hedge funds have also recently modified their holdings of BLL. First Trust Advisors LP acquired a new position in Ball during the third quarter worth $7,084,000. Raymond James Financial Services Advisors Inc. raised its holdings in Ball by 7.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 125,548 shares of the industrial products company’s stock worth $5,185,000 after purchasing an additional 8,591 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Ball during the third quarter worth $1,131,000. Andra AP fonden raised its holdings in shares of Ball by 80.3% in the third quarter. Andra AP fonden now owns 27,400 shares of the industrial products company’s stock worth $1,132,000 after acquiring an additional 12,200 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Ball by 3.4% in the third quarter. Wedge Capital Management L L P NC now owns 200,583 shares of the industrial products company’s stock worth $8,284,000 after acquiring an additional 6,621 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Ball Co. (BLL) traded down $0.68 during midday trading on Wednesday, hitting $40.94. The stock had a trading volume of 2,173,048 shares, compared to its average volume of 3,630,000. Ball Co. has a 52 week low of $35.60 and a 52 week high of $43.24. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.92 and a quick ratio of 0.54. The stock has a market capitalization of $14,350.00, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 3.29 and a beta of 0.89.
Ball (NYSE:BLL) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.08. Ball had a return on equity of 19.24% and a net margin of 3.63%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. sell-side analysts expect that Ball Co. will post 2.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, February 28th. Ball’s dividend payout ratio (DPR) is 31.01%.
A number of equities analysts have recently weighed in on BLL shares. TheStreet raised Ball from a “c+” rating to a “b-” rating in a report on Tuesday, March 6th. Citigroup raised Ball from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a report on Wednesday, January 17th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $48.00 price target (up from $47.00) on shares of Ball in a report on Thursday, February 8th. BMO Capital Markets raised Ball from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Monday, December 4th. Finally, KeyCorp raised Ball from an “underweight” rating to a “sector weight” rating in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $45.62.
In other Ball news, Director R David Hoover sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $40.71, for a total transaction of $89,562.00. Following the sale, the director now owns 194,594 shares in the company, valued at $7,921,921.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO James N. Peterson sold 1,349 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $38.05, for a total value of $51,329.45. Following the sale, the chief operating officer now owns 38,008 shares in the company, valued at approximately $1,446,204.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,677 shares of company stock worth $1,867,290. Insiders own 2.70% of the company’s stock.
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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