Investors Buy Shares of Ball Corp. (BLL) on Weakness
Traders purchased shares of Ball Corp. (NYSE:BLL) on weakness during trading hours on Tuesday. $45.48 million flowed into the stock on the tick-up and $21.80 million flowed out of the stock on the tick-down, for a money net flow of $23.68 million into the stock. Of all equities tracked, Ball Corp. had the 14th highest net in-flow for the day. Ball Corp. traded down ($0.13) for the day and closed at $80.07
A number of equities analysts have commented on BLL shares. Jefferies Group reaffirmed a “buy” rating on shares of Ball Corp. in a research note on Tuesday, April 26th. TheStreet cut Ball Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Zacks Investment Research cut Ball Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Bank of America Corp. reaffirmed a “buy” rating and issued a $80.00 price target on shares of Ball Corp. in a research note on Thursday, July 7th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ball Corp. in a research note on Saturday, July 9th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Ball Corp. currently has a consensus rating of “Buy” and a consensus target price of $82.57.
The firm’s 50 day moving average is $71.88 and its 200-day moving average is $70.71. The stock has a market cap of $11.37 billion and a P/E ratio of 33.45.
Ball Corp. (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.17 billion. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. Equities research analysts predict that Ball Corp. will post $3.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.65%.
In related news, Director Daniel J. Heinrich acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were acquired at an average cost of $80.73 per share, for a total transaction of $242,190.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $242,190. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO James N. Peterson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the sale, the chief operating officer now owns 15,626 shares in the company, valued at $1,133,822.56. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Utah Retirement Systems increased its stake in shares of Ball Corp. by 0.4% in the fourth quarter. Utah Retirement Systems now owns 24,702 shares of the company’s stock worth $1,796,000 after buying an additional 100 shares during the period. Nicholas Co. Inc. WI increased its stake in shares of Ball Corp. by 3.5% in the fourth quarter. Nicholas Co. Inc. WI now owns 1,554,046 shares of the company’s stock worth $113,025,000 after buying an additional 52,480 shares during the period. Trexquant Investment LP bought a new stake in shares of Ball Corp. during the fourth quarter worth about $1,460,000. Aberdeen Asset Management PLC UK increased its stake 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 worth $1,711,000 after buying an additional 3,943 shares during the period. Finally, Principal Financial Group Inc. increased its stake 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 worth $14,709,000 after buying an additional 5,357 shares during the period.
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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