Corsair Capital Management L.P. decreased its position in Ball Co. (NYSE:BLL) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 311,522 shares of the industrial products company’s stock after selling 39,349 shares during the quarter. Ball accounts for approximately 3.1% of Corsair Capital Management L.P.’s holdings, making the stock its 11th largest holding. Corsair Capital Management L.P.’s holdings in Ball were worth $13,704,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in shares of Ball by 3.0% in the 3rd quarter. Janus Henderson Group PLC now owns 8,834,258 shares of the industrial products company’s stock valued at $388,620,000 after purchasing an additional 257,164 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Ball by 1.2% in the 3rd quarter. William Blair Investment Management LLC now owns 7,190,814 shares of the industrial products company’s stock valued at $316,323,000 after acquiring an additional 86,773 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Ball by 7.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,908,416 shares of the industrial products company’s stock valued at $127,941,000 after acquiring an additional 199,415 shares in the last quarter. Chilton Investment Co. LLC grew its holdings in shares of Ball by 2.6% in the 2nd quarter. Chilton Investment Co. LLC now owns 2,871,212 shares of the industrial products company’s stock valued at $102,072,000 after acquiring an additional 72,385 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Ball by 19.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,437,502 shares of the industrial products company’s stock valued at $107,228,000 after acquiring an additional 398,984 shares in the last quarter. 88.48% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Jeff A. Knobel sold 6,899 shares of Ball stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $47.42, for a total transaction of $327,150.58. Following the completion of the transaction, the vice president now owns 68,389 shares in the company, valued at $3,243,006.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles E. Baker sold 16,647 shares of Ball stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $50.50, for a total value of $840,673.50. The disclosure for this sale can be found here. Insiders have sold 145,213 shares of company stock valued at $6,434,505 in the last quarter. 2.70% of the stock is currently owned by corporate insiders.
Ball (NYSE:BLL) last posted its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.04). Ball had a return on equity of 20.02% and a net margin of 4.21%. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Ball Co. will post 2.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, November 30th. Ball’s payout ratio is currently 19.61%.
Several equities analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Ball from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 3rd. Zacks Investment Research upgraded Ball from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Barclays raised their price objective on Ball from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, August 9th. BMO Capital Markets restated an “outperform” rating and issued a $52.00 price objective on shares of Ball in a report on Thursday, October 4th. Finally, ValuEngine upgraded Ball from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $50.00.
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Ball Company Profile
Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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