Bank of America Corp. reissued their buy rating on shares of Ball Corp. (NYSE:BLL) in a research report report published on Thursday morning. The brokerage currently has a $90.00 target price on the stock.
BLL has been the subject of several other reports. Barclays PLC started coverage on Ball Corp. in a research report on Thursday, July 14th. They set an equal weight rating and a $75.00 price objective for the company. Jefferies Group reissued a buy rating and set a $86.00 target price on shares of Ball Corp. in a report on Tuesday, July 5th. Citigroup Inc. initiated coverage on Ball Corp. in a report on Friday, July 29th. They set a neutral rating and a $77.00 target price on the stock. Vertical Group cut Ball Corp. to a hold rating in a report on Friday, August 5th. Finally, Robert W. Baird reissued an outperform rating and set a $85.00 target price on shares of Ball Corp. in a report on Sunday, August 7th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $84.00.
Shares of Ball Corp. (NYSE:BLL) traded up 0.09% during mid-day trading on Thursday, hitting $80.97. The company had a trading volume of 211,763 shares. The stock’s 50-day moving average is $79.53 and its 200-day moving average is $73.97. Ball Corp. has a 52-week low of $62.03 and a 52-week high of $81.67. The stock has a market cap of $14.11 billion, a price-to-earnings ratio of 37.31 and a beta of 1.11.
Ball Corp. (NYSE:BLL) last issued its quarterly earnings data 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. The business earned $2.03 billion during the quarter, compared to the consensus estimate of $2.17 billion. Ball Corp. had a return on equity of 27.28% and a net margin of 4.45%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. Equities analysts forecast that Ball Corp. will post $3.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.64%. The ex-dividend date was Tuesday, August 30th. Ball Corp.’s dividend payout ratio (DPR) is currently 22.13%.
In other news, Director Robert W. Alspaugh bought 3,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were bought at an average cost of $79.27 per share, with a total value of $237,810.00. Following the purchase, the director now directly owns 500 shares in the company, valued at $39,635. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Erik Bouts bought 10,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were purchased at an average cost of $79.41 per share, for a total transaction of $794,100.00. Following the completion of the purchase, the chief operating officer now owns 5,988 shares in the company, valued at $475,507.08. The disclosure for this purchase can be found here. Company insiders own 3.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Mizuho Asset Management Co. Ltd. increased its stake in shares of Ball Corp. by 129.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,715 shares of the company’s stock valued at $124,000 after buying an additional 968 shares during the period. 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 valued at $192,000 after buying an additional 219 shares during the period. Bank of Nova Scotia purchased a new stake in shares of Ball Corp. during the second quarter valued at about $205,000. Investec Asset Management LTD purchased a new stake in shares of Ball Corp. during the first quarter valued at 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 valued at $239,000 after buying an additional 300 shares during the period. 77.68% of the stock is currently owned by institutional investors.
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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