Crossmark Global Holdings Inc. lifted its holdings in Ball Co. (NYSE:BLL) by 3.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,522 shares of the industrial products company’s stock after acquiring an additional 772 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ball were worth $1,187,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Pearl River Capital LLC bought a new stake in Ball during the 1st quarter valued at $30,000. Picton Mahoney Asset Management bought a new stake in Ball during the 1st quarter valued at $3,536,000. Robeco Institutional Asset Management B.V. raised its holdings in Ball by 180.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 162,733 shares of the industrial products company’s stock valued at $9,417,000 after buying an additional 104,664 shares during the last quarter. Sigma Planning Corp bought a new stake in Ball during the 1st quarter valued at $545,000. Finally, Arrow Investment Advisors LLC bought a new stake in Ball during the 1st quarter valued at $667,000. Hedge funds and other institutional investors own 86.75% of the company’s stock.
BLL has been the subject of a number of recent analyst reports. Morgan Stanley set a $55.00 price target on shares of Ball and gave the company a “buy” rating in a report on Tuesday, February 5th. Citigroup boosted their price objective on shares of Ball from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, April 5th. KeyCorp reissued a “hold” rating on shares of Ball in a research report on Thursday, May 2nd. Zacks Investment Research raised shares of Ball from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets downgraded shares of Ball from an “outperform” rating to a “market perform” rating and set a $58.10 price objective on the stock. in a research report on Monday, April 8th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $55.59.
Ball (NYSE:BLL) last issued its quarterly earnings data 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 company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Ball had a net margin of 3.83% and a return on equity of 20.39%. The firm’s revenue for the quarter 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. On average, analysts forecast that Ball Co. will post 2.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.15 per share. This is an increase from Ball’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, May 31st. Ball’s payout ratio is presently 18.18%.
Ball announced that its board has authorized a share buyback program on Wednesday, January 23rd that allows the company to repurchase 50,000,000 outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Chairman John A. Hayes sold 9,111 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.66, for a total value of $561,784.26. Following the sale, the chairman now directly owns 472,141 shares of the company’s stock, valued at approximately $29,112,214.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John A. Hayes sold 91,701 shares of the company’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $55.20, for a total transaction of $5,061,895.20. Following the completion of the sale, the chairman now directly owns 467,844 shares in the company, valued at $25,824,988.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,833 shares of company stock worth $7,031,478. Insiders own 1.80% of the company’s stock.
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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