Angeles Investment Advisors LLC lessened its holdings in Ball Co. (NYSE:BLL) by 29.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Allred Capital Management LLC acquired a new stake in shares of Ball in the first quarter valued at $27,000. CSat Investment Advisory L.P. raised its holdings in Ball by 66.7% in the 1st quarter. CSat Investment Advisory L.P. now owns 350 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 140 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Ball in the 4th quarter worth approximately $31,000. Vantage Consulting Group Inc bought a new stake in Ball during the fourth quarter valued at $39,000. Finally, Rockbridge Investment Management LCC bought a new position in Ball during the fourth quarter valued at approximately $42,000. 80.84% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on BLL. Atlantic Securities upgraded shares of Ball from a “neutral” rating to an “overweight” rating and set a $101.00 target price on the stock in a research note on Tuesday, June 22nd. Longbow Research started coverage on shares of Ball in a report on Thursday, May 20th. They set a “buy” rating and a $116.00 price objective on the stock. Northland Securities assumed coverage on shares of Ball in a report on Tuesday, June 29th. They issued a “buy” rating and a $113.00 price target for the company. The Goldman Sachs Group initiated coverage on Ball in a research report on Friday, April 9th. They issued a “buy” rating and a $98.00 target price on the stock. Finally, Jefferies Financial Group increased their price target on Ball from $93.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, April 15th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Ball currently has a consensus rating of “Buy” and an average target price of $101.47.
Ball (NYSE:BLL) last issued its quarterly earnings data on Thursday, May 6th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. Ball had a net margin of 6.29% and a return on equity of 32.35%. The firm had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. Analysts anticipate that Ball Co. will post 3.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 28th. This represents a $0.60 annualized dividend and a yield of 0.73%. Ball’s payout ratio is presently 20.20%.
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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