Gemmer Asset Management LLC grew its holdings in Ball Co. (NYSE:BLL) by 49.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,778 shares of the industrial products company’s stock after acquiring an additional 587 shares during the period. Gemmer Asset Management LLC’s holdings in Ball were worth $103,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Cigna Investments Inc. New raised its stake in Ball by 1.9% during the 4th quarter. Cigna Investments Inc. New now owns 9,906 shares of the industrial products company’s stock valued at $455,000 after purchasing an additional 189 shares during the last quarter. IFP Advisors Inc increased its holdings in 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 buying an additional 209 shares during the period. Legacy Financial Advisors Inc. increased its holdings in 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 buying an additional 238 shares during the period. Advisors Capital Management LLC increased its holdings in Ball by 0.4% in the 4th quarter. Advisors Capital Management LLC now owns 69,518 shares of the industrial products company’s stock valued at $3,196,000 after buying an additional 247 shares during the period. Finally, Cozad Asset Management Inc. increased its holdings in Ball by 4.1% in the 4th quarter. Cozad Asset Management Inc. now owns 7,437 shares of the industrial products company’s stock valued at $342,000 after buying an additional 295 shares during the period. 87.22% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Ball from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. BMO Capital Markets lowered shares of 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. Citigroup boosted their price target on shares of Ball from $61.00 to $68.00 and gave the company a “buy” rating in a report on Friday, April 5th. KeyCorp reissued a “hold” rating on shares of Ball in a report on Monday, January 7th. Finally, ValuEngine raised shares of Ball from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $54.93.
Shares of NYSE:BLL opened at $57.56 on Wednesday. Ball Co. has a 12 month low of $34.71 and a 12 month high of $58.95. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.65 and a current ratio of 0.96. The stock has a market cap of $19.50 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 4.06 and a beta of 0.83.
Ball (NYSE:BLL) last issued its quarterly earnings data on Thursday, January 31st. The industrial products company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Ball had a return on equity of 20.08% and a net margin of 3.90%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.68 billion. Analysts expect that Ball Co. will post 2.61 earnings per share for the current fiscal year.
Ball declared that its board has initiated a share repurchase plan on Wednesday, January 23rd that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other Ball news, Chairman John A. Hayes sold 9,100 shares of the stock in a transaction dated 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 owns 468,115 shares of the company’s stock, valued at approximately $27,136,626.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Nate C. Carey sold 1,900 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $55.59, for a total transaction of $105,621.00. Following the sale, the vice president now directly owns 16,336 shares in the company, valued at approximately $908,118.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,399 shares of company stock worth $7,566,622. Insiders own 1.80% of the company’s stock.
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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