Principal Financial Group Inc. increased its stake in shares of Ball Corporation (NYSE:BLL) by 94.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 523,940 shares of the industrial products company’s stock after acquiring an additional 254,582 shares during the quarter. Principal Financial Group Inc. owned approximately 0.15% of Ball Corporation worth $22,115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cleararc Capital Inc. boosted its stake in Ball Corporation by 0.9% during the first quarter. Cleararc Capital Inc. now owns 4,297 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 38 shares in the last quarter. Fifth Third Bancorp boosted its stake in Ball Corporation by 2.1% during the first quarter. Fifth Third Bancorp now owns 3,646 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 75 shares in the last quarter. HCR Wealth Advisors boosted its stake in Ball Corporation by 2.1% during the first quarter. HCR Wealth Advisors now owns 4,902 shares of the industrial products company’s stock worth $344,000 after acquiring an additional 101 shares in the last quarter. HighTower Advisors LLC boosted its stake in Ball Corporation by 0.8% during the first quarter. HighTower Advisors LLC now owns 14,201 shares of the industrial products company’s stock worth $1,055,000 after acquiring an additional 109 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Ball Corporation by 3.3% during the first quarter. Pacer Advisors Inc. now owns 3,441 shares of the industrial products company’s stock worth $256,000 after acquiring an additional 110 shares in the last quarter. 86.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of Ball Corporation (BLL) opened at 40.72 on Wednesday. The stock has a 50 day moving average of $40.58 and a 200 day moving average of $39.58. Ball Corporation has a one year low of $35.65 and a one year high of $43.06. The stock has a market cap of $14.32 billion, a P/E ratio of 57.76 and a beta of 0.96.

Ball Corporation (NYSE:BLL) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.02). Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 40.6% on a year-over-year basis. On average, analysts forecast that Ball Corporation will post $2.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, August 30th. Ball Corporation’s dividend payout ratio (DPR) is presently 78.43%.

In other news, COO Daniel William Fisher sold 1,750 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $41.77, for a total transaction of $73,097.50. Following the sale, the chief operating officer now owns 11,594 shares in the company, valued at approximately $484,281.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jeff A. Knobel sold 5,218 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.12, for a total transaction of $209,346.16. Following the sale, the vice president now owns 68,138 shares in the company, valued at approximately $2,733,696.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,325 shares of company stock worth $4,641,057. Company insiders own 2.70% of the company’s stock.

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Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Ball Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Tuesday, July 4th. BidaskClub upgraded shares of Ball Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Jefferies Group LLC restated a “buy” rating and set a $47.00 price objective on shares of Ball Corporation in a report on Sunday, June 25th. Deutsche Bank AG restated a “buy” rating and set a $47.00 price objective (up previously from $44.00) on shares of Ball Corporation in a report on Tuesday, July 18th. Finally, Barclays PLC upped their price objective on shares of Ball Corporation from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Ball Corporation presently has an average rating of “Hold” and an average price target of $44.05.

About Ball Corporation

Ball Corporation 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. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.

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

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