NJ State Employees Deferred Compensation Plan reduced its stake in shares of Ball Co. (NYSE:BLL) by 25.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,000 shares of the industrial products company’s stock after selling 6,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Ball were worth $1,311,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of BLL. Marshall Wace LLP bought a new position in shares of Ball during the first quarter valued at approximately $1,103,000. Marshall Wace North America L.P. bought a new position in shares of Ball during the first quarter valued at approximately $243,000. Advisory Services Network LLC grew its stake in shares of Ball by 163.9% during the first quarter. Advisory Services Network LLC now owns 5,859 shares of the industrial products company’s stock valued at $339,000 after buying an additional 3,639 shares during the last quarter. Horizon Investments LLC bought a new position in shares of Ball during the first quarter valued at approximately $210,000. Finally, LVM Capital Management Ltd. MI bought a new position in shares of Ball during the second quarter valued at approximately $224,000. Institutional investors own 82.78% of the company’s stock.
NYSE:BLL traded up $0.24 during midday trading on Friday, hitting $74.11. The stock had a trading volume of 2,042,506 shares, compared to its average volume of 2,206,843. Ball Co. has a one year low of $42.24 and a one year high of $81.88. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 5.21 and a beta of 0.73. The stock has a 50-day moving average of $74.55 and a 200 day moving average of $68.80. The company has a quick ratio of 0.81, a current ratio of 1.10 and a debt-to-equity ratio of 1.94.
A number of research analysts have recently commented on BLL shares. UBS Group upped their target price on Ball from $60.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Co cut Ball from an “outperform” rating to a “market perform” rating and upped their target price for the company from $68.00 to $72.00 in a research note on Monday, August 5th. Citigroup cut their target price on Ball from $86.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday. Vertical Research cut Ball from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Finally, ValuEngine cut Ball from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $64.61.
In other Ball news, Chairman John A. Hayes sold 9,648 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $74.24, for a total transaction of $716,267.52. Following the completion of the sale, the chairman now owns 438,487 shares in the company, valued at $32,553,274.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Scott C. Morrison sold 17,224 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $76.40, for a total value of $1,315,913.60. Following the sale, the vice president now owns 442,361 shares of the company’s stock, valued at approximately $33,796,380.40. The disclosure for this sale can be found here. In the last three months, insiders sold 154,119 shares of company stock worth $11,898,845. 1.80% of the stock is owned by insiders.
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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