Several other analysts have also issued reports on BLL. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Ball Corp. in a research report on Saturday, July 9th. Vertical Group lowered shares of Ball Corp. to a hold rating in a research report on Friday, August 5th. Vertical Research lowered shares of Ball Corp. from a buy rating to a hold rating in a research report on Friday, August 5th. Jefferies Group reaffirmed a buy rating and set a $86.00 price target on shares of Ball Corp. in a research report on Tuesday, July 5th. Finally, Barclays PLC began 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 on the stock. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $84.00.
Ball Corp. (NYSE:BLL) opened at 80.85 on Thursday. The firm has a 50-day moving average of $79.59 and a 200-day moving average of $74.21. The firm has a market capitalization of $14.09 billion, a price-to-earnings ratio of 37.26 and a beta of 1.02. Ball Corp. has a 52-week low of $62.30 and a 52-week high of $82.24.
Ball Corp. (NYSE:BLL) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.06. Ball Corp. had a net margin of 4.45% and a return on equity of 27.28%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Ball Corp. will post $3.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Tuesday, August 30th. Ball Corp.’s dividend payout ratio is 22.13%.
In related news, VP Shawn M. Barker sold 16,000 shares of the firm’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 transaction, the vice president now directly owns 3,397 shares of the company’s stock, valued at $272,914.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel J. Heinrich purchased 3,000 shares of the stock in a transaction that occurred 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 owns 3,000 shares of the company’s stock, valued at approximately $242,190. The disclosure for this purchase can be found here. Corporate insiders own 3.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BLL. Mizuho Asset Management Co. Ltd. raised its position in Ball Corp. by 129.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,715 shares of the company’s stock worth $124,000 after buying an additional 968 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Ball Corp. by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,651 shares of the company’s stock worth $192,000 after buying an additional 219 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of Ball Corp. during the second quarter worth about $205,000. Investec Asset Management LTD purchased a new stake in shares of Ball Corp. during the first quarter worth about $217,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Ball Corp. by 10.0% in the second quarter. Daiwa Securities Group Inc. now owns 3,300 shares of the company’s stock worth $239,000 after buying an additional 300 shares during the last quarter. 77.68% of the stock is currently owned by institutional investors and hedge funds.
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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