Ball (BLL) Cut to “Underweight” at KeyCorp
KeyCorp lowered shares of Ball (NYSE:BLL) from a sector weight rating to an underweight rating in a research report report published on Friday, MarketBeat.com reports. They currently have $36.00 price target on the industrial products company’s stock, down from their prior price target of $40.81. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued reports about the stock. UBS assumed coverage on shares of Ball in a research report on Monday, October 23rd. They set a buy rating and a $50.00 target price for the company. Robert W. Baird restated a buy rating and set a $45.00 price target on shares of Ball in a report on Thursday, October 12th. Zacks Investment Research cut shares of Ball from a buy rating to a hold rating in a report on Tuesday, October 10th. Royal Bank Of Canada assumed coverage on shares of Ball in a report on Monday, October 9th. They set an outperform rating and a $46.00 price target on the stock. Finally, BMO Capital Markets upgraded shares of Ball from a market perform rating to an outperform rating and set a $48.00 price target on the stock in a report on Monday, December 4th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $44.79.
Shares of Ball (NYSE:BLL) opened at $39.60 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.66 and a debt-to-equity ratio of 1.95. The company has a market cap of $13,862.20, a PE ratio of 21.23, a PEG ratio of 3.69 and a beta of 0.96. Ball has a 52-week low of $35.65 and a 52-week high of $43.24.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, November 30th. Ball’s dividend payout ratio (DPR) is presently 62.50%.
In other Ball news, Chairman John A. Hayes sold 5,519 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $40.74, for a total value of $224,844.06. Following the transaction, the chairman now directly owns 408,451 shares in the company, valued at $16,640,293.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman John A. Hayes sold 5,619 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $41.98, for a total transaction of $235,885.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,923 shares of company stock worth $1,392,977. 2.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLL. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake 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 acquiring an additional 1,225 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Ball by 5,297.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,483 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 2,437 shares during the last quarter. Korea Investment CORP boosted its stake 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 acquiring an additional 2,448 shares during the last quarter. First Personal Financial Services lifted its stake in shares of Ball by 100.0% during the 2nd quarter. First Personal Financial Services now owns 3,594 shares of the industrial products company’s stock valued at $152,000 after buying an additional 1,797 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ball by 100.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,123 shares of the industrial products company’s stock valued at $174,000 after buying an additional 2,061 shares in the last quarter. Hedge funds and other institutional investors own 89.54% of the company’s stock.
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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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