Toronto Dominion Bank Grows Position in Ball Co. (NYSE:BLL)
Toronto Dominion Bank raised its holdings in shares of Ball Co. (NYSE:BLL) by 25.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,180 shares of the industrial products company’s stock after purchasing an additional 54,071 shares during the quarter. Toronto Dominion Bank owned approximately 0.08% of Ball worth $18,835,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BLL. Next Capital Management LLC purchased a new stake in shares of Ball in the second quarter worth about $25,000. Whittier Trust Co. lifted its holdings in shares of Ball by 56.0% in the second quarter. Whittier Trust Co. now owns 496 shares of the industrial products company’s stock worth $35,000 after buying an additional 178 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of Ball by 663.3% in the second quarter. Tortoise Investment Management LLC now owns 748 shares of the industrial products company’s stock worth $52,000 after buying an additional 650 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Ball in the second quarter worth about $56,000. Finally, Ibex Wealth Advisors purchased a new stake in shares of Ball in the second quarter worth about $60,000. 82.90% of the stock is currently owned by institutional investors and hedge funds.
In other Ball news, VP Scott C. Morrison sold 17,224 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $76.40, for a total transaction of $1,315,913.60. Following the transaction, the vice president now directly owns 442,361 shares in the company, valued at $33,796,380.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John A. Hayes sold 9,523 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $70.98, for a total transaction of $675,942.54. Following the transaction, the chairman now owns 437,979 shares in the company, valued at $31,087,749.42. The disclosure for this sale can be found here. Insiders sold 137,974 shares of company stock worth $10,688,411 over the last ninety days. 1.80% of the stock is currently owned by insiders.
Ball (NYSE:BLL) last announced its earnings results on Thursday, August 1st. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Ball had a net margin of 4.54% and a return on equity of 21.32%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share. As a group, equities research analysts predict that Ball Co. will post 2.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, August 30th. Ball’s dividend payout ratio is currently 27.27%.
A number of equities research analysts have recently issued reports on the stock. KeyCorp reissued a “hold” rating on shares of Ball in a report on Friday, August 2nd. Wells Fargo & Co downgraded shares of Ball from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $68.00 to $72.00 in a report on Monday, August 5th. Citigroup increased their price target on shares of Ball from $81.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, August 5th. ValuEngine downgraded shares of Ball from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, UBS Group increased their price target on shares of Ball from $60.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Ball presently has an average rating of “Hold” and an average price target of $63.46.
Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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