Cooke & Bieler LP Has $38,255,000 Position in Ball Corp. (BLL)
Cooke & Bieler LP increased its position in shares of Ball Corp. (NYSE:BLL) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 529,186 shares of the company’s stock after buying an additional 6,989 shares during the period. Cooke & Bieler LP owned approximately 0.37% of Ball Corp. worth $38,255,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in BLL. Commonwealth Equity Services Inc raised its stake in Ball Corp. by 13.0% in the first quarter. Commonwealth Equity Services Inc now owns 3,580 shares of the company’s stock worth $255,000 after buying an additional 411 shares during the period. Teachers Advisors Inc. raised its stake in Ball Corp. by 2.0% in the first quarter. Teachers Advisors Inc. now owns 154,128 shares of the company’s stock worth $10,988,000 after buying an additional 3,037 shares during the period. Prudential Financial Inc. raised its stake in Ball Corp. by 1.2% in the first quarter. Prudential Financial Inc. now owns 171,264 shares of the company’s stock worth $12,209,000 after buying an additional 1,970 shares during the period. BlackRock Group LTD raised its stake in Ball Corp. by 2.2% in the first quarter. BlackRock Group LTD now owns 993,383 shares of the company’s stock worth $70,817,000 after buying an additional 21,804 shares during the period. Finally, BlackRock Japan Co. Ltd raised its stake in Ball Corp. by 0.8% in the first quarter. BlackRock Japan Co. Ltd now owns 152,602 shares of the company’s stock worth $10,879,000 after buying an additional 1,217 shares during the period. 77.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Ball Corp. (NYSE:BLL) traded up 0.33% during trading on Monday, hitting $79.52. The stock had a trading volume of 1,245,069 shares. The stock has a 50-day moving average price of $79.24 and a 200 day moving average price of $74.68. Ball Corp. has a 12 month low of $62.30 and a 12 month high of $82.24. The company has a market cap of $13.85 billion, a P/E ratio of 36.65 and a beta of 1.02.
Ball Corp. (NYSE:BLL) last released its earnings results on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.06. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.17 billion. Ball Corp. had a return on equity of 27.28% and a net margin of 4.45%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. Equities analysts expect that Ball Corp. will post $3.44 EPS for the current fiscal year.
A number of analysts recently commented on BLL shares. Jefferies Group reaffirmed a “buy” rating and issued a $86.00 price target on shares of Ball Corp. in a research note on Tuesday, July 5th. Bank of America Corp. reaffirmed a “buy” rating and issued a $80.00 price target on shares of Ball Corp. in a research note on Thursday, July 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ball Corp. in a research note on Saturday, July 9th. Barclays PLC started coverage on Ball Corp. in a research note on Thursday, July 14th. They issued an “equal weight” rating and a $75.00 price target for the company. Finally, Citigroup Inc. started coverage on Ball Corp. in a research note on Friday, July 29th. They issued a “neutral” rating and a $77.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Ball Corp. presently has a consensus rating of “Buy” and a consensus target price of $85.43.
In other Ball Corp. news, Chairman John A. Hayes acquired 2,400 shares of the business’s stock in a transaction on Monday, August 8th. The shares were bought at an average price of $79.31 per share, with a total value of $190,344.00. Following the transaction, the chairman now directly owns 178,620 shares of the company’s stock, valued at approximately $14,166,352.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Heinrich acquired 3,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was acquired at an average cost of $80.73 per share, for a total transaction of $242,190.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $242,190. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.
Ball Corp. Company Profile
Ball Corporation (Ball) 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. The Company operates in four segments: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies.
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