Ball Co. (BLL) Shares Bought by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado raised its holdings in shares of Ball Co. (NYSE:BLL) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,898 shares of the industrial products company’s stock after purchasing an additional 3,195 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Ball were worth $2,267,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in BLL. Iridian Asset Management LLC CT lifted its position in shares of Ball by 25.8% during the third quarter. Iridian Asset Management LLC CT now owns 7,871,056 shares of the industrial products company’s stock worth $325,075,000 after purchasing an additional 1,613,246 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Ball by 19.2% in the third quarter. Bessemer Group Inc. now owns 4,074,776 shares of the industrial products company’s stock valued at $168,289,000 after acquiring an additional 656,667 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Ball by 23.1% in the third quarter. Bank of New York Mellon Corp now owns 3,203,954 shares of the industrial products company’s stock valued at $132,323,000 after acquiring an additional 602,244 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Ball by 23.3% in the third quarter. Frontier Capital Management Co. LLC now owns 2,818,408 shares of the industrial products company’s stock valued at $116,400,000 after acquiring an additional 533,516 shares in the last quarter. Finally, CI Investments Inc. bought a new stake in shares of Ball in the third quarter valued at about $14,869,000. Institutional investors and hedge funds own 89.08% of the company’s stock.
Several research firms recently weighed in on BLL. KeyCorp upgraded Ball from an “underweight” rating to a “sector weight” rating in a report on Monday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $48.00 price objective (up from $47.00) on shares of Ball in a report on Thursday, February 8th. Zacks Investment Research downgraded Ball from a “hold” rating to a “sell” rating in a report on Monday, January 29th. Citigroup upgraded Ball from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Wednesday, January 17th. Finally, TheStreet downgraded Ball from a “b-” rating to a “c+” rating in a report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.21.
Ball (NYSE:BLL) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.08. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.64 billion. Ball had a net margin of 3.63% and a return on equity of 19.20%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. equities analysts predict that Ball Co. will post 2.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.05%. Ball’s dividend payout ratio is presently 35.71%.
In other Ball news, COO James N. Peterson sold 1,349 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $38.05, for a total value of $51,329.45. Following the completion of the transaction, the chief operating officer now directly owns 38,008 shares in the company, valued at $1,446,204.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John A. Hayes sold 5,519 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $40.74, for a total transaction of $224,844.06. Following the completion of the transaction, the chairman now owns 408,451 shares of the company’s stock, valued at $16,640,293.74. The disclosure for this sale can be found here. Insiders sold 16,241 shares of company stock valued at $638,091 over the last quarter. 2.70% of the stock is currently owned by corporate insiders.
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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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