Posted by Anna Parker Philips on Jun 30th, 2018 // No Comments
Cubist Systematic Strategies LLC trimmed its stake in Ball Co. (NYSE:BLL) by 73.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,145 shares of the industrial products company’s stock after selling 37,112 shares during the period. Cubist Systematic Strategies LLC’s holdings in Ball were worth $522,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. LPL Financial LLC increased its stake in shares of Ball by 6.2% in the 1st quarter. LPL Financial LLC now owns 54,555 shares of the industrial products company’s stock worth $2,166,000 after purchasing an additional 3,208 shares in the last quarter. HCR Wealth Advisors purchased a new stake in shares of Ball in the 1st quarter worth $368,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Ball in the 1st quarter worth $2,540,000. Bayesian Capital Management LP purchased a new stake in shares of Ball in the 1st quarter worth $2,045,000. Finally, First Foundation Advisors increased its stake in shares of Ball by 57.8% in the 1st quarter. First Foundation Advisors now owns 545,481 shares of the industrial products company’s stock worth $21,661,000 after purchasing an additional 199,775 shares in the last quarter. Hedge funds and other institutional investors own 86.77% of the company’s stock. Get Ball alerts:
In other Ball news, VP Scott C. Morrison sold 2,167 shares of the stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $37.81, for a total transaction of $81,934.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website . Also, VP Scott C. Morrison sold 2,225 shares of the stock in a transaction dated Thursday, April 19th. The shares were sold at an average price of $41.18, for a total transaction of $91,625.50. Following the transaction, the vice president now directly owns 408,256 shares of the company’s stock, valued at approximately $16,811,982.08. The disclosure for this sale can be found here . Insiders have sold a total of 6,535 shares of company stock valued at $250,279 in the last three months. Insiders own 2.70% of the company’s stock. Several equities research analysts have recently commented on the company. ValuEngine lowered Ball from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 16th. Zacks Investment Research upgraded Ball from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. TheStreet lowered Ball from a “b” rating to a “c+” rating in a research note on Thursday, May 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Ball in a report on Thursday, May 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Ball currently has a consensus rating of “Hold” and an average price target of $45.38.
Shares of Ball stock opened at $35.55 on Friday. The firm has a market capitalization of $12.31 billion, a P/E ratio of 17.43, a PEG ratio of 2.78 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.72. Ball Co. has a fifty-two week low of $34.71 and a fifty-two week high of $43.24.
Ball (NYSE:BLL) last issued its earnings results on Thursday, May 3rd. The industrial products company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.58 billion. Ball had a net margin of 4.04% and a return on equity of 19.86%. Ball’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. sell-side analysts forecast that Ball Co. will post 2.31 EPS for the current year.
Ball declared that its board has approved a stock repurchase plan on Wednesday, April 25th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.13%. The ex-dividend date was Thursday, May 31st. Ball’s dividend payout ratio is currently 19.61%.
Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace. Receive News & Ratings for Ball analysts' ratings for Ball and related companies daily email newsletter .
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