Deutsche Bank AG reiterated their buy rating on shares of Ball Co. (NYSE:BLL) in a report published on Tuesday, July 18th. They currently have a $47.00 price target on the industrial products company’s stock, up from their prior price target of $44.00.
Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Ball from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Ball from a hold rating to a sell rating in a research report on Wednesday, April 5th. Jefferies Group LLC restated a buy rating and set a $47.00 price objective on shares of Ball in a research report on Sunday, June 25th. BidaskClub upgraded shares of Ball from a hold rating to a buy rating in a research report on Wednesday, June 28th. Finally, BMO Capital Markets restated a hold rating and set a $39.50 price objective on shares of Ball in a research report on Wednesday, April 12th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Ball presently has an average rating of Hold and an average price target of $44.05.
Shares of Ball (NYSE BLL) traded up 0.27% during mid-day trading on Tuesday, reaching $40.16. 1,659,275 shares of the company’s stock were exchanged. The company’s 50 day moving average is $41.90 and its 200 day moving average is $39.16. Ball has a 1-year low of $35.65 and a 1-year high of $43.06. The stock has a market capitalization of $14.13 billion, a PE ratio of 56.96 and a beta of 0.95.
Ball (NYSE:BLL) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.02. Ball had a return on equity of 11.00% and a net margin of 3.15%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. Ball’s revenue for the quarter was up 40.6% on a year-over-year basis. Equities research analysts anticipate that Ball will post $2.03 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, August 30th. Ball’s dividend payout ratio (DPR) is presently 78.43%.
In other news, Chairman John A. Hayes sold 5,622 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $41.10, for a total value of $231,064.20. Following the completion of the transaction, the chairman now owns 412,623 shares of the company’s stock, valued at $16,958,805.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R David Hoover sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $39.75, for a total transaction of $874,500.00. Following the completion of the transaction, the director now directly owns 205,260 shares of the company’s stock, valued at approximately $8,159,085. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,654 shares of company stock valued at $4,839,833. 2.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Ball by 100.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,450 shares of the industrial products company’s stock valued at $103,000 after buying an additional 1,225 shares during the last quarter. American Research & Management Co. raised its position in Ball by 100.0% in the second quarter. American Research & Management Co. now owns 2,800 shares of the industrial products company’s stock valued at $118,000 after buying an additional 1,400 shares during the last quarter. Pinnacle Bank acquired a new position in Ball during the first quarter valued at approximately $126,000. Korea Investment CORP raised its position in Ball by 385.5% in the second quarter. Korea Investment CORP now owns 3,083 shares of the industrial products company’s stock valued at $130,000 after buying an additional 2,448 shares during the last quarter. Finally, Ledyard National Bank raised its position in Ball by 520.0% in the second quarter. Ledyard National Bank now owns 3,100 shares of the industrial products company’s stock valued at $131,000 after buying an additional 2,600 shares during the last quarter. 46.59% of the stock is owned by institutional investors and hedge funds.
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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