LMR Partners LLP lowered its stake in shares of Ball Corp. (NYSE:BLL) by 81.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,794 shares of the company’s stock after selling 11,910 shares during the period. LMR Partners LLP’s holdings in Ball Corp. were worth $201,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLL. Brookside Capital Management LLC purchased a new position in shares of Ball Corp. during the first quarter valued at $96,483,000. Samlyn Capital LLC purchased a new position in shares of Ball Corp. during the first quarter valued at $59,717,000. Omega Advisors Inc. purchased a new position in shares of Ball Corp. during the first quarter valued at $41,113,000. Locust Wood Capital Advisers LLC purchased a new position in shares of Ball Corp. during the second quarter valued at $25,892,000. Finally, Renaissance Technologies LLC boosted its position in shares of Ball Corp. by 114.2% in the first quarter. Renaissance Technologies LLC now owns 559,264 shares of the company’s stock valued at $39,870,000 after buying an additional 298,200 shares in the last quarter. 77.68% of the stock is owned by institutional investors and hedge funds.
Shares of Ball Corp. (NYSE:BLL) traded up 0.84% during midday trading on Friday, reaching $79.26. The company had a trading volume of 532,320 shares. The firm has a market cap of $13.81 billion, a P/E ratio of 36.53 and a beta of 1.02. The company’s 50-day moving average is $79.24 and its 200-day moving average is $74.68. Ball Corp. has a 52-week low of $62.30 and a 52-week high of $82.24.
Ball Corp. (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.06. Ball Corp. had a return on equity of 27.28% and a net margin of 4.45%. The firm earned $2.03 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts expect that Ball Corp. will post $3.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.52 annualized dividend and a yield of 0.66%. Ball Corp.’s payout ratio is 22.13%.
BLL has been the subject of several research reports. Citigroup Inc. initiated coverage on Ball Corp. in a research note on Friday, July 29th. They set a “neutral” rating and a $77.00 target price for the company. Bank of America Corp. reaffirmed a “buy” rating and set a $90.00 target price on shares of Ball Corp. in a report on Thursday, September 29th. Zacks Investment Research raised Ball Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Wednesday, October 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $85.00 target price on shares of Ball Corp. in a report on Sunday, August 7th. Finally, TheStreet raised Ball Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Ball Corp. presently has an average rating of “Buy” and a consensus target price of $85.43.
In other news, Chairman John A. Hayes bought 2,400 shares of the stock in a transaction dated Monday, August 8th. The stock was bought at an average cost of $79.31 per share, with a total value of $190,344.00. Following the purchase, the chairman now owns 178,620 shares of the company’s stock, valued at $14,166,352.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert W. Alspaugh bought 3,000 shares of the stock in a transaction dated Monday, August 8th. The stock was purchased at an average cost of $79.27 per share, with a total value of $237,810.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at approximately $39,635. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.
About Ball Corp.
Ball Corporation (Ball) is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. The Company operates in four segments: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies.