Sawgrass Asset Management LLC Sells 400 Shares of Ball Co. (NYSE:BLL)

Sawgrass Asset Management LLC trimmed its stake in shares of Ball Co. (NYSE:BLL) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,590 shares of the industrial products company’s stock after selling 400 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Ball were worth $3,191,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Advisor Partners LLC grew its position in Ball by 3.5% during the first quarter. Advisor Partners LLC now owns 5,680 shares of the industrial products company’s stock worth $329,000 after buying an additional 191 shares in the last quarter. Hanseatic Management Services Inc. grew its position in Ball by 0.7% during the second quarter. Hanseatic Management Services Inc. now owns 29,508 shares of the industrial products company’s stock worth $2,065,000 after buying an additional 201 shares in the last quarter. Piedmont Investment Advisors Inc. grew its position in Ball by 7.6% during the first quarter. Piedmont Investment Advisors Inc. now owns 5,422 shares of the industrial products company’s stock worth $314,000 after buying an additional 381 shares in the last quarter. Retirement Systems of Alabama grew its position in Ball by 0.3% during the second quarter. Retirement Systems of Alabama now owns 156,110 shares of the industrial products company’s stock worth $10,926,000 after buying an additional 428 shares in the last quarter. Finally, Cornerstone Advisors Inc. grew its position in Ball by 126.3% during the second quarter. Cornerstone Advisors Inc. now owns 887 shares of the industrial products company’s stock worth $62,000 after buying an additional 495 shares in the last quarter. Institutional investors own 81.05% of the company’s stock.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Ball from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Morgan Stanley boosted their target price on Ball from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. UBS Group boosted their target price on Ball from $60.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday. ValuEngine cut Ball from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Wells Fargo & Co boosted their target price on Ball from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $59.68.

In related news, Chairman John A. Hayes sold 9,111 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.66, for a total transaction of $561,784.26. Following the completion of the sale, the chairman now directly owns 472,141 shares in the company, valued at approximately $29,112,214.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott C. Morrison sold 2,897 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $63.06, for a total value of $182,684.82. Following the sale, the vice president now owns 441,271 shares of the company’s stock, valued at $27,826,549.26. The disclosure for this sale can be found here. Insiders sold a total of 42,078 shares of company stock valued at $2,746,288 over the last quarter. Company insiders own 1.80% of the company’s stock.

Shares of BLL traded down $0.67 during midday trading on Friday, reaching $74.07. The stock had a trading volume of 98,725 shares, compared to its average volume of 1,681,104. The business has a 50-day moving average price of $69.74. Ball Co. has a 12-month low of $38.00 and a 12-month high of $76.28. The company has a quick ratio of 0.77, a current ratio of 1.09 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $25.02 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 5.09 and a beta of 0.81.

Ball (NYSE:BLL) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Ball had a return on equity of 20.39% and a net margin of 3.83%. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. Ball’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Ball Co. will post 2.6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, August 30th. Ball’s payout ratio is currently 27.27%.

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.

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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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