Ball Corporation (NYSE:BLL) VP Scott C. Morrison sold 13,249 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $40.35, for a total value of $534,597.15. Following the transaction, the vice president now owns 392,091 shares in the company, valued at approximately $15,820,871.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Ball Corporation (NYSE BLL) opened at 40.27 on Friday. Ball Corporation has a 12-month low of $35.65 and a 12-month high of $43.06. The stock’s 50 day moving average price is $41.70 and its 200 day moving average price is $59.23. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 57.12 and a beta of 0.95.
Ball Corporation (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 analysts’ consensus estimates of $0.55 by $0.02. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities research analysts expect that Ball Corporation will post $2.03 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.99%. Ball Corporation’s payout ratio is 78.43%.
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Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Ball Corporation by 104.6% in the second quarter. Vanguard Group Inc. now owns 35,339,156 shares of the industrial products company’s stock worth $1,491,666,000 after buying an additional 18,062,724 shares during the last quarter. BlackRock Inc. raised its stake in Ball Corporation by 104.4% in the second quarter. BlackRock Inc. now owns 21,051,051 shares of the industrial products company’s stock worth $888,566,000 after buying an additional 10,752,597 shares during the last quarter. FMR LLC raised its stake in Ball Corporation by 91.2% in the second quarter. FMR LLC now owns 18,275,730 shares of the industrial products company’s stock worth $771,419,000 after buying an additional 8,716,359 shares during the last quarter. State Street Corp raised its stake in Ball Corporation by 97.8% in the second quarter. State Street Corp now owns 14,936,539 shares of the industrial products company’s stock worth $630,475,000 after buying an additional 7,386,379 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Ball Corporation by 111.7% in the second quarter. JPMorgan Chase & Co. now owns 14,936,002 shares of the industrial products company’s stock worth $630,447,000 after buying an additional 7,881,436 shares during the last quarter. Institutional investors own 53.01% of the company’s stock.
Several research analysts have weighed in on the company. Vertical Group reiterated a “hold” rating and set a $43.00 price objective (up previously from $41.50) on shares of Ball Corporation in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and set a $49.00 price objective (down previously from $50.00) on shares of Ball Corporation in a research report on Wednesday, August 9th. Barclays PLC increased their price objective on Ball Corporation from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. BidaskClub cut Ball Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research cut Ball Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Ball Corporation has an average rating of “Hold” and an average target price of $44.05.
About Ball Corporation
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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