Burney Co. Has $17.73 Million Stake in Ball Corporation (BLL)
Burney Co. boosted its position in Ball Corporation (NYSE:BLL) by 70.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 421,732 shares of the industrial products company’s stock after buying an additional 174,378 shares during the period. Ball Corporation comprises about 1.2% of Burney Co.’s investment portfolio, making the stock its 17th largest position. Burney Co. owned 0.12% of Ball Corporation worth $17,725,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new position in shares of Ball Corporation during the second quarter worth $492,000. Swiss National Bank raised its position in shares of Ball Corporation by 105.8% in the second quarter. Swiss National Bank now owns 1,211,442 shares of the industrial products company’s stock worth $51,135,000 after buying an additional 622,871 shares during the period. Eagle Asset Management Inc. raised its position in shares of Ball Corporation by 138.9% in the second quarter. Eagle Asset Management Inc. now owns 732,793 shares of the industrial products company’s stock worth $30,931,000 after buying an additional 426,065 shares during the period. Thomas White International Ltd. raised its position in shares of Ball Corporation by 100.0% in the second quarter. Thomas White International Ltd. now owns 27,410 shares of the industrial products company’s stock worth $1,157,000 after buying an additional 13,705 shares during the period. Finally, Commerce Bank raised its position in shares of Ball Corporation by 91.8% in the second quarter. Commerce Bank now owns 23,426 shares of the industrial products company’s stock worth $989,000 after buying an additional 11,213 shares during the period. Institutional investors own 86.36% of the company’s stock.
Ball Corporation (NYSE:BLL) traded up 0.688% during midday trading on Friday, reaching $40.265. 221,955 shares of the company traded hands. Ball Corporation has a 1-year low of $35.65 and a 1-year high of $43.06. The firm has a 50-day moving average of $40.97 and a 200-day moving average of $39.38. The stock has a market capitalization of $14.16 billion, a P/E ratio of 57.113 and a beta of 0.95.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by $0.02. The company had revenue of $2.86 billion for 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 was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, analysts predict that Ball Corporation will post $2.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, August 30th. Ball Corporation’s dividend payout ratio is currently 78.43%.
A number of equities analysts have weighed in on the company. BidaskClub lowered Ball Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Vertical Group reissued a “hold” rating and issued a $43.00 target price (up previously from $41.50) on shares of Ball Corporation in a research report on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and issued a $49.00 target price (down previously from $50.00) on shares of Ball Corporation in a research report on Wednesday, August 9th. Barclays PLC boosted their target price on Ball Corporation from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research lowered Ball Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $44.05.
In related news, Chairman John A. Hayes sold 5,622 shares of Ball Corporation stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $41.10, for a total transaction of $231,064.20. Following the completion of the transaction, the chairman now directly owns 412,623 shares in the company, valued at $16,958,805.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman John A. Hayes sold 5,683 shares of Ball Corporation stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $42.23, for a total value of $239,993.09. Following the transaction, the chairman now owns 407,562 shares of the company’s stock, valued at $17,211,343.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,144 shares of company stock valued at $5,311,893. 2.70% of the stock is owned by company insiders.
About Ball Corporation
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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