Park National Corp OH Reduces Holdings in Ball Corporation (BLL)
Park National Corp OH reduced its position in Ball Corporation (NYSE:BLL) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,720 shares of the industrial products company’s stock after selling 2,200 shares during the quarter. Park National Corp OH’s holdings in Ball Corporation were worth $691,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. W. E. Donoghue & Co. LLC acquired a new position in Ball Corporation in the 2nd quarter valued at about $2,348,000. Packer & Co Ltd grew its position in Ball Corporation by 100.0% in the 2nd quarter. Packer & Co Ltd now owns 601,846 shares of the industrial products company’s stock valued at $25,404,000 after acquiring an additional 300,923 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Ball Corporation by 184.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 186,093 shares of the industrial products company’s stock valued at $7,855,000 after acquiring an additional 120,689 shares in the last quarter. Sentry Investment Management LLC grew its position in Ball Corporation by 100.0% in the 2nd quarter. Sentry Investment Management LLC now owns 13,808 shares of the industrial products company’s stock valued at $583,000 after acquiring an additional 6,904 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in Ball Corporation by 150.9% in the 2nd quarter. Toronto Dominion Bank now owns 118,833 shares of the industrial products company’s stock valued at $5,015,000 after acquiring an additional 71,465 shares in the last quarter. 86.32% of the stock is owned by institutional investors.
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Several equities analysts have weighed in on BLL shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $47.00 target price on shares of Ball Corporation in a research report on Sunday, June 25th. BidaskClub raised Ball Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $47.00 target price (up from $44.00) on shares of Ball Corporation in a research report on Tuesday, July 18th. Zacks Investment Research cut Ball Corporation from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Robert W. Baird reiterated a “buy” rating and issued a $45.00 price objective on shares of Ball Corporation in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $44.23.
In related news, VP Scott C. Morrison sold 13,249 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $40.35, for a total value of $534,597.15. Following the completion of the transaction, the vice president now owns 392,091 shares of the company’s stock, valued at $15,820,871.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John A. Hayes sold 5,619 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $41.98, for a total value of $235,885.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,601 shares of company stock valued at $5,260,953. Insiders own 2.70% of the company’s stock.
Ball Corporation (NYSE:BLL) traded down 0.62% during midday trading on Tuesday, reaching $41.93. The company had a trading volume of 445,072 shares. The firm’s 50-day moving average price is $40.91 and its 200 day moving average price is $40.34. Ball Corporation has a 12 month low of $35.65 and a 12 month high of $43.06. The firm has a market capitalization of $14.75 billion, a PE ratio of 59.48 and a beta of 0.97.
Ball Corporation (NYSE:BLL) last posted its 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). Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the business posted $1.05 EPS. Ball Corporation’s quarterly revenue was up 40.6% compared to the same quarter last year. Equities analysts anticipate that Ball Corporation will post $2.03 earnings per share for the current fiscal year.
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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