Traders Buy Shares of Ball (BLL) on Weakness on Insider Selling
Traders purchased shares of Ball Co. (NYSE:BLL) on weakness during trading hours on Monday following insider selling activity. $37.64 million flowed into the stock on the tick-up and $17.16 million flowed out of the stock on the tick-down, for a money net flow of $20.48 million into the stock. Of all equities tracked, Ball had the 31st highest net in-flow for the day. Ball traded down ($0.96) for the day and closed at $37.76Specifically, VP Scott C. Morrison sold 2,591 shares of Ball stock in a transaction on Friday, January 19th. The stock was sold at an average price of $38.62, for a total value of $100,064.42. Following the completion of the sale, the vice president now owns 390,052 shares of the company’s stock, valued at $15,063,808.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO James N. Peterson sold 1,349 shares of Ball stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $38.05, for a total value of $51,329.45. Following the completion of the sale, the chief operating officer now directly owns 38,008 shares of the company’s stock, valued at approximately $1,446,204.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,936 shares of company stock valued at $873,238. Company insiders own 2.70% of the company’s stock.
A number of brokerages recently weighed in on BLL. Citigroup upgraded Ball from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, January 17th. Zacks Investment Research upgraded Ball from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. BMO Capital Markets upgraded Ball from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Monday, December 4th. TheStreet cut Ball from a “b-” rating to a “c+” rating in a report on Thursday, December 14th. Finally, KeyCorp reiterated a “hold” rating on shares of Ball in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.00.
The firm has a market capitalization of $13,220.00, a P/E ratio of 51.03, a P/E/G ratio of 3.15 and a beta of 0.97. The company has a quick ratio of 0.66, a current ratio of 1.04 and a debt-to-equity ratio of 1.95.
Several institutional investors and hedge funds have recently modified their holdings of BLL. Garcia Hamilton & Associates LP DE lifted its stake in shares of Ball by 9.6% in the second quarter. Garcia Hamilton & Associates LP DE now owns 8,540 shares of the industrial products company’s stock worth $360,000 after acquiring an additional 746 shares in the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of Ball by 5.0% in the third quarter. Chartwell Investment Partners LLC now owns 30,939 shares of the industrial products company’s stock worth $1,277,000 after acquiring an additional 1,485 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Ball by 0.8% in the third quarter. Aperio Group LLC now owns 180,150 shares of the industrial products company’s stock worth $7,440,000 after acquiring an additional 1,492 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Ball by 63.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,881 shares of the industrial products company’s stock worth $147,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Ball by 5.1% in the third quarter. Janney Montgomery Scott LLC now owns 31,447 shares of the industrial products company’s stock worth $1,299,000 after acquiring an additional 1,524 shares in the last quarter. Institutional investors own 89.60% of the company’s stock.
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Ball 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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