Global Retirement Partners LLC grew its stake in Ball Co. (NYSE:BLL) by 281.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 644 shares of the industrial products company’s stock after purchasing an additional 475 shares during the quarter. Global Retirement Partners LLC’s holdings in Ball were worth $30,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of BLL. Cascade Investment Advisors Inc. bought a new stake in shares of Ball in the 4th quarter valued at about $32,000. Oregon Public Employees Retirement Fund raised its position in Ball by 4,406.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,720,250 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 1,682,073 shares during the last quarter. IFP Advisors Inc raised its position in Ball by 24.5% during the 4th quarter. IFP Advisors Inc now owns 1,062 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 209 shares during the last quarter. Legacy Financial Advisors Inc. raised its position in Ball by 29.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,060 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 238 shares during the last quarter. Finally, Gemmer Asset Management LLC raised its position in Ball by 204.6% during the 4th quarter. Gemmer Asset Management LLC now owns 1,191 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 87.22% of the company’s stock.
BLL stock traded down $0.60 during trading on Wednesday, reaching $58.90. The company’s stock had a trading volume of 924,641 shares, compared to its average volume of 2,444,949. The firm has a market capitalization of $19.90 billion, a PE ratio of 26.77, a PEG ratio of 4.07 and a beta of 0.83. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.65 and a current ratio of 0.96. Ball Co. has a 1 year low of $34.71 and a 1 year high of $59.63.
Ball announced that its board has authorized a stock buyback plan on Wednesday, January 23rd that authorizes the company to buyback 50,000,000 shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.02%. This is a positive change from Ball’s previous quarterly dividend of $0.10. Ball’s dividend payout ratio (DPR) is currently 18.18%.
In other news, VP Scott C. Morrison sold 13,677 shares of Ball stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $53.01, for a total transaction of $725,017.77. Following the completion of the sale, the vice president now owns 459,336 shares of the company’s stock, valued at $24,349,401.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John A. Hayes sold 9,100 shares of Ball stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $57.97, for a total transaction of $527,527.00. Following the sale, the chairman now directly owns 468,115 shares of the company’s stock, valued at approximately $27,136,626.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,399 shares of company stock valued at $7,566,622. 1.80% of the stock is currently owned by company insiders.
A number of research firms have weighed in on BLL. Morgan Stanley upped their target price on Ball from $55.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. UBS Group downgraded Ball from a “buy” rating to a “neutral” rating and set a $58.00 target price on the stock. in a report on Friday, February 15th. Wells Fargo & Co upped their target price on Ball from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 21st. ValuEngine upgraded Ball from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, KeyCorp restated a “hold” rating on shares of Ball in a research note on Monday, January 7th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.59.
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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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