Newtyn Management Lowers stake in Ball Corporation (BLL)

Ball Corporation (BLL) : Newtyn Management reduced its stake in Ball Corporation by 13.33% during the most recent quarter end. The investment management company now holds a total of 650,000 shares of Ball Corporation which is valued at $52,195,000 after selling 100,000 shares in Ball Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ball Corporation makes up approximately 5.64% of Newtyn Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp sold out all of its stake in BLL during the most recent quarter. The investment firm sold 155,119 shares of BLL which is valued $12,456,056.Wescap Management Group reduced its stake in BLL by selling 2,809 shares or 11.11% in the most recent quarter. The Hedge Fund company now holds 22,475 shares of BLL which is valued at $1,804,743. Ball Corporation makes up approx 0.85% of Wescap Management Group’s portfolio.Raymond James Associates boosted its stake in BLL in the latest quarter, The investment management firm added 3,977 additional shares and now holds a total of 26,634 shares of Ball Corporation which is valued at $2,138,710. Ball Corporation makes up approx 0.01% of Raymond James Associates’s portfolio.Lmr Partners Llp reduced its stake in BLL by selling 11,910 shares or 81.0% in the most recent quarter. The Hedge Fund company now holds 2,794 shares of BLL which is valued at $197,452. Ball Corporation makes up approx 0.03% of Lmr Partners Llp’s portfolio.

Ball Corporation opened for trading at $79.39 and hit $79.89 on the upside on Thursday, eventually ending the session at $79.85, with a gain of 0.83% or 0.66 points. The heightened volatility saw the trading volume jump to 23,85,951 shares. Company has a market cap of $13,912 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.

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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