Picton Mahoney Asset Management Sells 9,500 Shares of Ball Co. (NYSE:BLL)

Picton Mahoney Asset Management decreased its stake in Ball Co. (NYSE:BLL) by 15.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,600 shares of the industrial products company’s stock after selling 9,500 shares during the period. Picton Mahoney Asset Management’s holdings in Ball were worth $3,612,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Next Capital Management LLC bought a new stake in Ball in the second quarter worth about $25,000. Pearl River Capital LLC bought a new stake in shares of Ball in the first quarter valued at approximately $30,000. Whittier Trust Co. raised its position in shares of Ball by 56.0% in the second quarter. Whittier Trust Co. now owns 496 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 178 shares during the period. YorkBridge Wealth Partners LLC bought a new stake in shares of Ball in the first quarter valued at approximately $56,000. Finally, Larson Financial Group LLC bought a new stake in shares of Ball in the second quarter valued at approximately $56,000. 79.67% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Ball from $81.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, August 5th. ValuEngine lowered shares of Ball from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wells Fargo & Co lowered shares of Ball from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $68.00 to $72.00 in a research report on Monday, August 5th. Morgan Stanley boosted their price target on shares of Ball from $71.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, KeyCorp reissued a “hold” rating on shares of Ball in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.46.

In related news, COO Daniel William Fisher sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $66.14, for a total transaction of $330,700.00. Following the completion of the transaction, the chief operating officer now owns 34,045 shares of the company’s stock, valued at $2,251,736.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman John A. Hayes sold 9,247 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $65.19, for a total transaction of $602,811.93. Following the transaction, the chairman now directly owns 439,485 shares of the company’s stock, valued at approximately $28,650,027.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,701 shares of company stock valued at $10,475,591. 1.80% of the stock is owned by corporate insiders.

NYSE:BLL traded down $1.56 during mid-day trading on Friday, hitting $78.20. 1,319,204 shares of the stock traded hands, compared to its average volume of 2,083,150. The business’s 50-day moving average price is $73.91 and its 200 day moving average price is $63.52. The company has a market cap of $26.48 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 5.61 and a beta of 0.80. Ball Co. has a 12-month low of $40.72 and a 12-month high of $80.66. The company has a quick ratio of 0.81, a current ratio of 1.10 and a debt-to-equity ratio of 1.94.

Ball (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Ball had a net margin of 4.54% and a return on equity of 21.32%. Ball’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. Analysts anticipate that Ball Co. will post 2.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.60 annualized dividend and a yield of 0.77%. Ball’s dividend payout ratio is currently 27.27%.

Ball Company 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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