Investors Buy Shares of Ball Corp. (BLL) on Weakness
Traders bought shares of Ball Corp. (NYSE:BLL) on weakness during trading on Monday. $39.67 million flowed into the stock on the tick-up and $26.87 million flowed out of the stock on the tick-down, for a money net flow of $12.80 million into the stock. Of all stocks tracked, Ball Corp. had the 25th highest net in-flow for the day. Ball Corp. traded down ($0.10) for the day and closed at $69.93
A number of analysts recently issued reports on BLL shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ball Corp. in a research report on Saturday, July 9th. Bank of America Corp. reissued a “buy” rating and set a $80.00 price target on shares of Ball Corp. in a research report on Thursday, July 7th. Jefferies Group reissued a “buy” rating and set a $86.00 price target on shares of Ball Corp. in a research report on Tuesday, July 5th. Zacks Investment Research raised Ball Corp. from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Tuesday, March 29th. Finally, Barclays PLC assumed coverage on Ball Corp. in a research report on Thursday, July 14th. They set an “equal weight” rating and a $75.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $78.83.
The stock has a market capitalization of $9.91 billion and a P/E ratio of 74.87. The stock has a 50 day moving average price of $71.93 and a 200 day moving average price of $70.37.
Ball Corp. (NYSE:BLL) last released its quarterly earnings data on Thursday, April 28th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.10. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ball Corp.’s quarterly revenue was down 8.7% on a year-over-year basis. On average, equities analysts expect that Ball Corp. will post $3.53 EPS for the current year.
In related news, COO James N. Peterson sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the transaction, the chief operating officer now owns 15,626 shares of the company’s stock, valued at approximately $1,133,822.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hanno C. Fiedler purchased 7,000 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average cost of $71.77 per share, for a total transaction of $502,390.00. Following the transaction, the director now owns 124,418 shares in the company, valued at approximately $8,929,479.86. The disclosure for this purchase can be found here.
A number of institutional investors have made changes to their positions in BLL. Trexquant Investment LP acquired a new position in shares of Ball Corp. during the fourth quarter valued at $1,460,000. Marshall Wace LLP boosted its position in shares of Ball Corp. by 336.9% in the fourth quarter. Marshall Wace LLP now owns 750,213 shares of the company’s stock valued at $54,563,000 after buying an additional 578,494 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in shares of 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 valued at $2,512,000 after buying an additional 959 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its position in shares of Ball Corp. by 18.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 25,003 shares of the company’s stock valued at $1,711,000 after buying an additional 3,943 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Ball Corp. by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 202,243 shares of the company’s stock valued at $14,709,000 after buying an additional 5,357 shares during 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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