Teacher Retirement System of Texas increased its holdings in shares of Ball Co. (NYSE:BLL) by 19.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,508 shares of the industrial products company’s stock after acquiring an additional 17,512 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ball were worth $9,025,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Creative Planning boosted its holdings in shares of Ball by 9.2% during the 4th quarter. Creative Planning now owns 6,229 shares of the industrial products company’s stock worth $580,000 after purchasing an additional 525 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Ball in the 4th quarter valued at $232,000. Treasurer of the State of North Carolina increased its stake in shares of Ball by 0.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 122,432 shares of the industrial products company’s stock worth $11,408,000 after acquiring an additional 420 shares during the last quarter. Focused Wealth Management Inc purchased a new position in shares of Ball during the 4th quarter worth $61,000. Finally, Baker Tilly Financial LLC acquired a new position in shares of Ball during the 4th quarter valued at about $209,000. 80.98% of the stock is owned by institutional investors.
Several analysts have recently commented on the stock. BMO Capital Markets lowered shares of Ball from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $107.00 to $87.00 in a research report on Wednesday, May 26th. Jefferies Financial Group increased their price target on Ball from $93.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, April 15th. Longbow Research initiated coverage on shares of Ball in a research report on Thursday, May 20th. They issued a “buy” rating and a $116.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Ball in a report on Friday, April 9th. They issued a “buy” rating and a $98.00 target price for the company. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Ball currently has an average rating of “Buy” and a consensus price target of $100.63.
NYSE:BLL opened at $80.46 on Friday. Ball Co. has a 12-month low of $66.25 and a 12-month high of $102.76. The stock has a market capitalization of $26.41 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 4.64 and a beta of 0.43. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.57 and a current ratio of 0.85. The company has a fifty day moving average of $88.05.
Ball (NYSE:BLL) last announced its quarterly earnings data on Thursday, May 6th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.05. The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Ball had a return on equity of 32.35% and a net margin of 6.29%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. Equities analysts anticipate that Ball Co. will post 3.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, May 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.75%. Ball’s payout ratio is currently 20.20%.
Ball Company Profile
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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