Nordea Investment Management AB Cuts Stock Position in Ball Co. (NYSE:BLL)

Nordea Investment Management AB reduced its holdings in shares of Ball Co. (NYSE:BLL) by 15.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,926 shares of the industrial products company’s stock after selling 4,570 shares during the quarter. Nordea Investment Management AB’s holdings in Ball were worth $1,442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Ball by 2.7% in the first quarter. BlackRock Inc. now owns 22,146,380 shares of the industrial products company’s stock worth $1,281,389,000 after purchasing an additional 580,211 shares during the period. Geode Capital Management LLC increased its position in shares of Ball by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 4,417,275 shares of the industrial products company’s stock worth $202,755,000 after purchasing an additional 311,457 shares during the period. Jackson Square Partners LLC bought a new position in shares of Ball in the first quarter worth $254,594,000. Northern Trust Corp increased its position in shares of Ball by 2.5% in the fourth quarter. Northern Trust Corp now owns 3,720,010 shares of the industrial products company’s stock worth $171,047,000 after purchasing an additional 91,945 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Ball by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,336,542 shares of the industrial products company’s stock valued at $153,414,000 after acquiring an additional 63,862 shares during the last quarter. 81.97% of the stock is owned by institutional investors.

Shares of Ball stock traded down $0.20 on Friday, reaching $70.70. 2,067,592 shares of the company’s stock were exchanged, compared to its average volume of 2,469,747. The company has a quick ratio of 0.77, a current ratio of 1.09 and a debt-to-equity ratio of 1.84. The firm has a market cap of $23.73 billion, a P/E ratio of 32.14, a P/E/G ratio of 4.96 and a beta of 0.81. The business has a 50-day moving average price of $67.72. Ball Co. has a 52 week low of $37.42 and a 52 week high of $72.34.

Ball (NYSE:BLL) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.01). Ball had a net margin of 3.83% and a return on equity of 20.39%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the business posted $0.50 EPS. The company’s revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that Ball Co. will post 2.6 earnings per share for the current fiscal year.

In related news, Chairman John A. Hayes sold 9,111 shares of Ball stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.66, for a total transaction of $561,784.26. Following the transaction, the chairman now owns 472,141 shares of the company’s stock, valued at $29,112,214.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Daniel William Fisher sold 5,000 shares of Ball stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $66.14, for a total value of $330,700.00. Following the transaction, the chief operating officer now directly owns 34,045 shares in the company, valued at approximately $2,251,736.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,078 shares of company stock worth $2,746,288. 1.80% of the stock is owned by insiders.

A number of research analysts have issued reports on the company. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Wells Fargo & Co set a $9.00 target price on Bausch Health Companies and gave the company a “sell” rating in a research report on Friday, May 17th. Morgan Stanley reissued a “top pick” rating on shares of in a research note on Wednesday, June 5th. KeyCorp reissued a “hold” rating on shares of Ball in a research note on Thursday, May 2nd. Finally, BMO Capital Markets reissued a “hold” rating on shares of Snc-Lavalin Group in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $58.01.

Ball 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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Institutional Ownership by Quarter for Ball (NYSE:BLL)

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