Shares of Ball Corp. (NYSE:BLL) have been assigned an average recommendation of “Buy” from the twelve analysts that are presently covering the firm. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $84.83.
BLL has been the subject of several recent research reports. Jefferies Group restated a “buy” rating on shares of Ball Corp. in a research report on Friday, June 10th. Bank of America Corp. restated a “buy” rating and set a $80.00 price target on shares of Ball Corp. in a research report on Thursday, July 7th. JPMorgan Chase & Co. restated a “buy” rating on shares of Ball Corp. in a research report on Saturday, July 9th. Barclays PLC initiated coverage on shares of Ball Corp. in a research report on Thursday, July 14th. They set an “equal weight” rating and a $75.00 price target for the company. Finally, Citigroup Inc. initiated coverage on shares of Ball Corp. in a research report on Friday, July 29th. They set a “neutral” rating and a $77.00 price target for the company.
In other Ball Corp. news, Director Cynthia A. Niekamp purchased 3,000 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was bought at an average cost of $80.37 per share, with a total value of $241,110.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $241,110. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shawn M. Barker sold 16,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $80.34, for a total transaction of $1,285,440.00. Following the completion of the sale, the vice president now directly owns 3,397 shares of the company’s stock, valued at $272,914.98. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of BLL. Vanguard Group Inc. increased its stake in shares of Ball Corp. by 11.7% in the second quarter. Vanguard Group Inc. now owns 13,856,473 shares of the company’s stock worth $1,001,685,000 after buying an additional 1,452,558 shares during the last quarter. FMR LLC increased its stake in shares of Ball Corp. by 16.2% in the second quarter. FMR LLC now owns 6,345,042 shares of the company’s stock worth $458,683,000 after buying an additional 885,627 shares during the last quarter. State Street Corp increased its stake in shares of Ball Corp. by 8.6% in the second quarter. State Street Corp now owns 6,003,676 shares of the company’s stock worth $434,001,000 after buying an additional 476,837 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Ball Corp. by 4.7% in the first quarter. Wellington Management Group LLP now owns 5,452,134 shares of the company’s stock worth $388,683,000 after buying an additional 242,530 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Ball Corp. by 0.5% in the second quarter. JPMorgan Chase & Co. now owns 5,401,930 shares of the company’s stock worth $390,505,000 after buying an additional 25,766 shares during the last quarter. 77.68% of the stock is owned by institutional investors.
Shares of Ball Corp. (NYSE:BLL) opened at 81.95 on Wednesday. Ball Corp. has a 12 month low of $62.30 and a 12 month high of $82.24. The firm has a 50 day moving average of $79.57 and a 200-day moving average of $74.07. The stock has a market capitalization of $14.28 billion, a P/E ratio of 37.76 and a beta of 1.11.
Ball Corp. (NYSE:BLL) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. The business earned $2.03 billion during the quarter, compared to analyst estimates of $2.17 billion. Ball Corp. had a net margin of 4.45% and a return on equity of 27.28%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Analysts forecast that Ball Corp. will post $3.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Tuesday, August 30th. Ball Corp.’s payout ratio is 22.13%.
About Ball Corp.
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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