Ball Corporation (BLL) Cut to “Strong Sell” at BidaskClub
BidaskClub downgraded shares of Ball Corporation (NYSE:BLL) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.
BLL has been the subject of a number of other reports. Zacks Investment Research raised Ball Corporation from a hold rating to a buy rating and set a $47.00 price target for the company in a report on Tuesday, July 4th. Vertical Research downgraded Ball Corporation from a buy rating to a hold rating and set a $41.50 price target for the company. in a report on Friday, May 5th. ValuEngine raised Ball Corporation from a buy rating to a strong-buy rating in a report on Thursday, May 18th. Jefferies Group LLC boosted their price target on Ball Corporation from $45.00 to $47.50 and gave the company a buy rating in a report on Friday, May 5th. Finally, TheStreet raised Ball Corporation from a c+ rating to a b rating in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Ball Corporation presently has an average rating of Hold and a consensus price target of $44.05.
Ball Corporation (BLL) opened at 39.08 on Friday. The stock has a market cap of $13.75 billion, a P/E ratio of 55.43 and a beta of 0.95. The stock has a 50 day moving average of $41.26 and a 200 day moving average of $39.31. Ball Corporation has a 1-year low of $35.65 and a 1-year high of $43.06.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was up 40.6% compared to the same quarter last year. Equities analysts anticipate that Ball Corporation will post $2.03 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders 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 dividend yield of 1.02%. The ex-dividend date is Wednesday, August 30th. Ball Corporation’s payout ratio is 78.43%.
In other news, SVP Lisa Ann Pauley sold 39,241 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $39.10, for a total transaction of $1,534,323.10. Following the completion of the transaction, the senior vice president now directly owns 108,905 shares of the company’s stock, valued at approximately $4,258,185.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Daniel William Fisher sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $41.77, for a total value of $73,097.50. Following the transaction, the chief operating officer now directly owns 11,594 shares of the company’s stock, valued at $484,281.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,144 shares of company stock valued at $5,311,893. Corporate insiders own 2.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BLL. Baird Financial Group Inc. acquired a new position in shares of Ball Corporation during the first quarter valued at $201,000. Geode Capital Management LLC increased its position in shares of Ball Corporation by 9.4% in the first quarter. Geode Capital Management LLC now owns 1,637,759 shares of the industrial products company’s stock valued at $121,443,000 after buying an additional 140,259 shares during the last quarter. Credit Agricole S A increased its position in shares of Ball Corporation by 17.4% in the first quarter. Credit Agricole S A now owns 103,163 shares of the industrial products company’s stock valued at $7,662,000 after buying an additional 15,280 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Ball Corporation by 30.9% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,957 shares of the industrial products company’s stock valued at $591,000 after buying an additional 1,877 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Ball Corporation by 95.1% in the second quarter. Janney Montgomery Scott LLC now owns 29,923 shares of the industrial products company’s stock valued at $1,263,000 after buying an additional 14,582 shares during the last quarter. 86.36% of the stock is owned by institutional investors and hedge funds.
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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