Convergence Investment Partners LLC raised its position in Ball Co. (NYSE:BLL) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,817 shares of the industrial products company’s stock after purchasing an additional 2,122 shares during the period. Convergence Investment Partners LLC’s holdings in Ball were worth $894,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of BLL. Nuveen Asset Management LLC increased its stake in Ball by 3,691.6% in the second quarter. Nuveen Asset Management LLC now owns 2,669,736 shares of the industrial products company’s stock valued at $186,855,000 after purchasing an additional 2,599,325 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Ball by 82.5% in the second quarter. Macquarie Group Ltd. now owns 2,404,522 shares of the industrial products company’s stock valued at $168,293,000 after buying an additional 1,087,134 shares during the period. BlackRock Inc. boosted its holdings in shares of Ball by 3.2% in the second quarter. BlackRock Inc. now owns 22,850,210 shares of the industrial products company’s stock valued at $1,599,286,000 after buying an additional 703,830 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Ball in the third quarter valued at approximately $31,197,000. Finally, Royal Bank of Canada boosted its holdings in shares of Ball by 166.6% in the second quarter. Royal Bank of Canada now owns 639,212 shares of the industrial products company’s stock valued at $44,738,000 after buying an additional 399,441 shares during the period. 81.63% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman John A. Hayes sold 9,382 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $63.55, for a total transaction of $596,226.10. Also, VP Jeff A. Knobel sold 6,782 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $63.38, for a total transaction of $429,843.16. Following the transaction, the vice president now owns 71,140 shares of the company’s stock, valued at approximately $4,508,853.20. The disclosure for this sale can be found here. Insiders have sold 56,600 shares of company stock valued at $3,691,610 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.
Several research firms have recently weighed in on BLL. Morgan Stanley reiterated a “buy” rating and issued a $87.00 price target on shares of Ball in a report on Wednesday, November 6th. Northland Securities began coverage on shares of Ball in a report on Monday, December 2nd. They issued an “outperform” rating and a $82.00 price target for the company. Citigroup reduced their price target on shares of Ball from $86.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Barclays began coverage on shares of Ball in a report on Thursday, January 16th. They issued an “equal weight” rating and a $72.00 price target for the company. Finally, Vertical Research upgraded shares of Ball from a “sell” rating to a “hold” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $77.39.
Ball stock opened at $71.85 on Thursday. Ball Co. has a twelve month low of $48.81 and a twelve month high of $81.88. The company has a 50 day moving average of $65.48 and a 200-day moving average of $70.72. The stock has a market capitalization of $22.66 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 4.24 and a beta of 0.67. The company has a quick ratio of 0.70, a current ratio of 1.01 and a debt-to-equity ratio of 1.91.
Ball (NYSE:BLL) last announced its earnings results on Thursday, October 31st. The industrial products company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.02). Ball had a return on equity of 22.86% and a net margin of 4.82%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts anticipate that Ball Co. will post 2.5 EPS for the current fiscal year.
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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