Ball Co. (NYSE:BLL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $66.69 and last traded at $66.57, with a volume of 229140 shares changing hands. The stock had previously closed at $66.44.
Several research firms recently weighed in on BLL. Zacks Investment Research downgraded Ball from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Morgan Stanley lifted their target price on Ball from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Wells Fargo & Co lifted their target price on Ball from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. BMO Capital Markets downgraded Ball from an “outperform” rating to a “market perform” rating and set a $58.10 price objective on the stock. in a research report on Monday, April 8th. They noted that the move was a valuation call. Finally, Citigroup boosted their target price on Ball from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Ball presently has an average rating of “Buy” and an average price target of $56.93.
The stock has a market capitalization of $22.31 billion, a P/E ratio of 30.27, a PEG ratio of 4.59 and a beta of 0.73. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.77 and a current ratio of 1.09.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Ball’s previous quarterly dividend of $0.10. Ball’s payout ratio is 27.27%.
In related news, COO Daniel William Fisher sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $66.14, for a total transaction of $330,700.00. Following the completion of the sale, the chief operating officer now directly owns 34,045 shares of the company’s stock, valued at approximately $2,251,736.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Scott C. Morrison sold 2,897 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $63.06, for a total value of $182,684.82. Following the sale, the vice president now directly owns 441,271 shares of the company’s stock, valued at $27,826,549.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,655 shares of company stock worth $2,597,872. 1.80% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its stake in shares of Ball by 168.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 306,988 shares of the industrial products company’s stock valued at $14,114,000 after buying an additional 192,786 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Ball by 4,406.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,720,250 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 1,682,073 shares during the last quarter. Roosevelt Investment Group Inc. purchased a new stake in shares of Ball during the 4th quarter valued at approximately $964,000. Spectrum Management Group Inc. purchased a new stake in shares of Ball during the 1st quarter valued at approximately $60,000. Finally, California Public Employees Retirement System raised its position in Ball by 35.2% in the fourth quarter. California Public Employees Retirement System now owns 1,681,382 shares of the industrial products company’s stock valued at $77,310,000 after purchasing an additional 437,581 shares during the period. 82.33% of the stock is owned by institutional investors.
Ball Company Profile (NYSE:BLL)
Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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