Investors Buy Shares of Ball Corporation (BLL) on Weakness
Traders bought shares of Ball Corporation (NYSE:BLL) on weakness during trading on Tuesday. $51.76 million flowed into the stock on the tick-up and $11.13 million flowed out of the stock on the tick-down, for a money net flow of $40.63 million into the stock. Of all stocks tracked, Ball Corporation had the 18th highest net in-flow for the day. Ball Corporation traded down ($0.16) for the day and closed at $39.99
A number of analysts recently weighed in on the company. Jefferies Group LLC restated a “buy” rating and issued a $49.00 price target (down from $50.00) on shares of Ball Corporation in a research note on Wednesday, August 9th. Vertical Group reaffirmed a “hold” rating and set a $43.00 price objective (up from $41.50) on shares of Ball Corporation in a report on Wednesday, August 9th. BidaskClub cut Ball Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC lifted their price objective on Ball Corporation from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Finally, Vertical Research cut Ball Corporation from a “buy” rating to a “hold” rating and set a $41.50 price objective for the company. in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $44.05.
The company’s 50 day moving average price is $40.83 and its 200 day moving average price is $39.49. The firm has a market capitalization of $14.07 billion, a price-to-earnings ratio of 56.72 and a beta of 0.96.
Ball Corporation (NYSE:BLL) last released its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.02. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. Ball Corporation’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 EPS. On average, analysts expect that Ball Corporation will post $2.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.00%. Ball Corporation’s payout ratio is currently 78.43%.
In related news, Chairman John A. Hayes sold 5,683 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $42.23, for a total transaction of $239,993.09. Following the completion of the sale, the chairman now directly owns 407,562 shares in the company, valued at $17,211,343.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Daniel William Fisher sold 1,750 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $41.77, for a total value of $73,097.50. Following the sale, the chief operating officer now owns 11,594 shares of the company’s stock, valued at $484,281.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,522 shares of company stock valued at $5,080,829. 2.70% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Ball Corporation by 100.0% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,450 shares of the industrial products company’s stock worth $103,000 after acquiring an additional 1,225 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Ball Corporation by 5,297.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,483 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 2,437 shares in the last quarter. American Research & Management Co. raised its holdings in shares of Ball Corporation by 100.0% during the second quarter. American Research & Management Co. now owns 2,800 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 1,400 shares in the last quarter. Korea Investment CORP raised its holdings in shares of Ball Corporation by 385.5% during the second quarter. Korea Investment CORP now owns 3,083 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 2,448 shares in the last quarter. Finally, Ledyard National Bank raised its holdings in shares of Ball Corporation by 520.0% during the second quarter. Ledyard National Bank now owns 3,100 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 86.36% of the company’s stock.
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Ball Corporation Company Profile
Ball Corporation 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. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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