D.B. Root & Company LLC Sells 305 Shares of Ball Co. (BLL)

D.B. Root & Company LLC decreased its stake in shares of Ball Co. (NYSE:BLL) by 1.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,310 shares of the industrial products company’s stock after selling 305 shares during the quarter. D.B. Root & Company LLC’s holdings in Ball were worth $1,002,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BLL. Global Retirement Partners LLC boosted its position in shares of Ball by 281.1% during the 4th quarter. Global Retirement Partners LLC now owns 644 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 475 shares in the last quarter. Cascade Investment Advisors Inc. acquired a new stake in shares of Ball in the 4th quarter valued at about $32,000. Oregon Public Employees Retirement Fund boosted its position in shares of Ball by 4,406.0% in 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 period. IFP Advisors Inc boosted its position in shares of Ball by 24.5% in 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 period. Finally, Legacy Financial Advisors Inc. boosted its position in shares of Ball by 29.0% in 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 period. Hedge funds and other institutional investors own 87.08% of the company’s stock.

Several analysts have commented on the company. Citigroup reduced their price objective on Ball from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, January 7th. Zacks Investment Research downgraded Ball from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Morgan Stanley began coverage on Ball in a research note on Wednesday, January 16th. They set an “overweight” rating and a $55.00 target price for the company. BMO Capital Markets cut Ball from an “outperform” rating to a “market perform” rating and set a $58.10 price target on the stock. in a report on Monday, April 8th. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their target price on Ball from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Ball currently has a consensus rating of “Hold” and an average price target of $55.59.

In related news, VP Scott C. Morrison sold 13,677 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $53.01, for a total transaction of $725,017.77. Following the sale, the vice president now owns 459,336 shares of the company’s stock, valued at $24,349,401.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman John A. Hayes sold 91,701 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $55.20, for a total value of $5,061,895.20. Following the sale, the chairman now directly owns 467,844 shares in the company, valued at approximately $25,824,988.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,399 shares of company stock worth $7,566,622. Corporate insiders own 1.80% of the company’s stock.

Shares of NYSE BLL opened at $61.54 on Friday. Ball Co. has a 1 year low of $34.71 and a 1 year high of $61.76. The stock has a market cap of $20.56 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 4.29 and a beta of 0.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.65 and a current ratio of 1.09.

Ball (NYSE:BLL) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.01). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Ball had a return on equity of 20.39% and a net margin of 3.83%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. Equities research analysts anticipate that Ball Co. will post 2.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.97%. This is an increase from Ball’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 31st. Ball’s dividend payout ratio (DPR) is 18.18%.

Ball declared that its board has initiated a stock buyback plan on Wednesday, January 23rd that authorizes the company to repurchase 50,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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Ball 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.

Further Reading: 12b-1 Fees

Institutional Ownership by Quarter for Ball (NYSE:BLL)

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