Investors Buy Shares of Ball Corp. (BLL) on Weakness
Investors bought shares of Ball Corp. (NYSE:BLL) on weakness during trading on Thursday. $104.46 million flowed into the stock on the tick-up and $24.01 million flowed out of the stock on the tick-down, for a money net flow of $80.45 million into the stock. Of all companies tracked, Ball Corp. had the highest net in-flow for the day. Ball Corp. traded down ($0.03) for the day and closed at $71.30
A number of research analysts recently commented on BLL shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Ball Corp. in a research note on Saturday, July 9th. Bank of America Corp. restated a “buy” rating and set a $80.00 target price on shares of Ball Corp. in a research report on Thursday, July 7th. Jefferies Group restated a “buy” rating and set a $86.00 target price on shares of Ball Corp. in a research report on Tuesday, July 5th. Zacks Investment Research upgraded shares of Ball Corp. from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Tuesday, March 29th. Finally, Barclays PLC assumed coverage on shares of Ball Corp. in a research report on Thursday. They set an “equal weight” rating and a $75.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $78.83.
The stock has a market capitalization of $10.11 billion and a P/E ratio of 76.34. The firm has a 50 day moving average price of $72.05 and a 200 day moving average price of $70.45.
Ball Corp. (NYSE:BLL) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.10. During the same period in the prior year, the company earned $0.69 EPS. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. The firm’s revenue was down 8.7% compared to the same quarter last year. On average, analysts forecast that Ball Corp. will post $3.57 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.52 dividend on an annualized basis and a yield of 0.73%.
In other news, Director Hanno C. Fiedler purchased 7,000 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was bought at an average cost of $71.77 per share, for a total transaction of $502,390.00. Following the acquisition, the director now directly owns 124,418 shares of the company’s stock, valued at approximately $8,929,479.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James N. Peterson sold 2,000 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $72.56, for a total transaction of $145,120.00. Following the sale, the chief operating officer now owns 15,626 shares of the company’s stock, valued at $1,133,822.56. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of BLL. Dimensional Fund Advisors LP raised its stake in Ball Corp. by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 402,069 shares of the company’s stock worth $29,244,000 after buying an additional 14,277 shares in the last quarter. Trexquant Investment LP purchased a new stake in Ball Corp. during the fourth quarter worth approximately $1,460,000. Marshall Wace LLP raised its stake in Ball Corp. by 336.9% in the fourth quarter. Marshall Wace LLP now owns 750,213 shares of the company’s stock worth $54,563,000 after buying an additional 578,494 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in Ball Corp. by 2.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 34,537 shares of the company’s stock worth $2,512,000 after buying an additional 959 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK raised its stake in Ball Corp. by 18.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 25,003 shares of the company’s stock worth $1,711,000 after buying an additional 3,943 shares in the last quarter.
Ball Corporation (Ball) 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. The Company operates in four segments: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies.
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