Angeles Investment Advisors LLC reduced its holdings in shares of Ball Co. (NYSE:BLL) by 29.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,143 shares of the industrial products company’s stock after selling 5,990 shares during the period. Angeles Investment Advisors LLC’s holdings in Ball were worth $1,198,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of BLL. Price T Rowe Associates Inc. MD lifted its position in shares of Ball by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,529,714 shares of the industrial products company’s stock worth $2,163,388,000 after acquiring an additional 1,856,256 shares in the last quarter. Morgan Stanley grew its holdings in shares of Ball by 10.9% during the first quarter. Morgan Stanley now owns 6,607,457 shares of the industrial products company’s stock valued at $559,916,000 after buying an additional 647,070 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Ball by 3.1% in the 1st quarter. Geode Capital Management LLC now owns 5,767,539 shares of the industrial products company’s stock worth $487,472,000 after buying an additional 173,552 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Ball by 31.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,901,809 shares of the industrial products company’s stock valued at $415,379,000 after purchasing an additional 1,172,069 shares in the last quarter. Finally, Sustainable Growth Advisers LP boosted its holdings in shares of Ball by 27.5% during the 1st quarter. Sustainable Growth Advisers LP now owns 4,598,125 shares of the industrial products company’s stock valued at $389,645,000 after purchasing an additional 991,966 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.
Several brokerages recently weighed in on BLL. Atlantic Securities upgraded shares of Ball from a “neutral” rating to an “overweight” rating and set a $101.00 price target on the stock in a report on Tuesday, June 22nd. BMO Capital Markets lowered Ball from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $107.00 to $87.00 in a report on Wednesday, May 26th. Northland Securities started coverage on shares of Ball in a report on Tuesday, June 29th. They issued a “buy” rating and a $113.00 target price on the stock. Longbow Research initiated coverage on Ball in a report on Thursday, May 20th. They issued a “buy” rating and a $116.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on Ball in a report on Friday, April 9th. They set a “buy” rating and a $98.00 target price on the stock. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $101.47.
Ball (NYSE:BLL) last issued its quarterly earnings results on Thursday, May 6th. The industrial products company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.05. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.09 billion. Ball had a return on equity of 32.35% and a net margin of 6.29%. Ball’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. Analysts predict that Ball Co. will post 3.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, May 28th. Ball’s payout ratio is 20.20%.
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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