Burney Co Lowers stake in Ball Corporation (BLL)

Ball Corporation (BLL) : Burney Co reduced its stake in Ball Corporation by 1.38% during the most recent quarter end. The investment management company now holds a total of 265,318 shares of Ball Corporation which is valued at $21,305,035 after selling 3,717 shares in Ball Corporation , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Ball Corporation makes up approximately 1.47% of Burney Co’s portfolio.

Other Hedge Funds, Including , New York State Common Retirement Fund boosted its stake in BLL in the latest quarter, The investment management firm added 7,000 additional shares and now holds a total of 326,400 shares of Ball Corporation which is valued at $26,209,920. Ball Corporation makes up approx 0.04% of New York State Common Retirement Fund’s portfolio.Fortaleza Asset Management Inc reduced its stake in BLL by selling 6,960 shares or 22.85% in the most recent quarter. The Hedge Fund company now holds 23,500 shares of BLL which is valued at $1,860,025. Ball Corporation makes up approx 1.43% of Fortaleza Asset Management Inc’s portfolio.Pggm Investments boosted its stake in BLL in the latest quarter, The investment management firm added 69,220 additional shares and now holds a total of 426,552 shares of Ball Corporation which is valued at $30,349,175. Ball Corporation makes up approx 0.15% of Pggm Investments’s portfolio.Old Mutual Global Investors (uk) Ltd. reduced its stake in BLL by selling 396,700 shares or 85.37% in the most recent quarter. The Hedge Fund company now holds 67,982 shares of BLL which is valued at $4,810,406. Ball Corporation makes up approx 0.09% of Old Mutual Global Investors (uk) Ltd.’s portfolio.Nordea Investment Management Ab reduced its stake in BLL by selling 215 shares or 4.23% in the most recent quarter. The Hedge Fund company now holds 4,871 shares of BLL which is valued at $343,600.

Ball Corporation opened for trading at $79.82 and hit $80.65 on the upside on Friday, eventually ending the session at $80.58, with a gain of 0.39% or 0.31 points. The heightened volatility saw the trading volume jump to 12,95,400 shares. Company has a market cap of $14,039 M.

On the company’s financial health, Ball Corporation reported $1.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.99. The company had revenue of $2030.00 million for the quarter, compared to analysts expectations of $2175.76 million. The company’s revenue was down -6.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.89 EPS.

Investors should note that on Jul 27, 2016, Ball Corporation announced a cash dividend of $0.1300. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on Ball Corporation. Ball Corporation was Resumed by Citigroup to “Neutral” on Jul 29, 2016. Barclays Resumed Ball Corporation on Jul 14, 2016 to “Equal Weight”, Price Target of the shares are set at $75.BofA/Merrill Resumed Ball Corporation on Jul 7, 2016 to “Buy”, Price Target of the shares are set at $80.

Ball Corporation (Ball) is a supplier of metal packaging to the beverage food personal care and household products industries. The Company operates in four segments. The metal beverage packaging Americas and Asia segment consists of operations in the United States Canada Brazil and the PRC which manufacture aluminum containers used in beverage packaging. . The metal beverage packaging Europe segment consists of operations in Europe which manufacture and sell metal beverage containers. The metal food and household products packaging segment consists of operations in the United States Europe Canada Mexico and Argentina that manufacture and sell metal food aerosol paint general line and extruded aluminum containers decorative specialty containers and aluminum slugs. The aerospace and technologies segment consists of the manufacture and sale of aerospace and other related products and services provided for the defense civil space and commercial space industries.

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