Investors Buy Ball Corporation (NYSE:BLL) on Weakness After Insider Selling
Investors bought shares of Ball Corporation (NYSE:BLL) on weakness during trading hours on Wednesday after an insider sold shares in the company. $42.53 million flowed into the stock on the tick-up and $12.54 million flowed out of the stock on the tick-down, for a money net flow of $29.99 million into the stock. Of all stocks tracked, Ball Corporation had the 18th highest net in-flow for the day. Ball Corporation traded down ($0.81) for the day and closed at $40.28Specifically, Chairman John A. Hayes sold 5,622 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $41.10, for a total transaction of $231,064.20. Following the completion of the transaction, the chairman now directly owns 412,623 shares in the company, valued at $16,958,805.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Daniel William Fisher sold 1,750 shares of the business’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 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 quarter, insiders have sold 117,654 shares of company stock valued at $4,839,833. Insiders own 2.70% of the company’s stock.
Several equities analysts have recently issued reports on BLL shares. BMO Capital Markets reiterated a “hold” rating and set a $39.50 price objective on shares of Ball Corporation in a research report on Wednesday, April 12th. Vertical Research downgraded Ball Corporation from a “buy” rating to a “hold” rating and set a $41.50 price objective for the company. in a research report on Friday, May 5th. Jefferies Group LLC boosted their price objective on Ball Corporation from $45.00 to $47.50 and gave the stock a “buy” rating in a research report on Friday, May 5th. TheStreet upgraded Ball Corporation from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Finally, Zacks Investment Research upgraded Ball Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 8th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Ball Corporation presently has a consensus rating of “Hold” and a consensus price target of $44.17.
The stock has a market cap of $14.14 billion, a PE ratio of 29.97 and a beta of 0.95. The company has a 50 day moving average of $42.05 and a 200 day moving average of $39.07.
Ball Corporation (NYSE:BLL) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.02. Ball Corporation had a net margin of 1.70% and a return on equity of 17.54%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the company earned $1.05 earnings per share. Ball Corporation’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities analysts expect that Ball Corporation will post $2.05 EPS for the current year.
The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.99%. Ball Corporation’s dividend payout ratio (DPR) is currently 78.43%.
Several hedge funds have recently added to or reduced their stakes in BLL. Fiduciary Trust Co. boosted its position in shares of Ball Corporation by 86.7% in the second quarter. Fiduciary Trust Co. now owns 32,146 shares of the industrial products company’s stock worth $1,357,000 after buying an additional 14,925 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Ball Corporation by 100.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 295,444 shares of the industrial products company’s stock worth $12,471,000 after buying an additional 147,737 shares during the last quarter. Calamos Advisors LLC acquired a new position in shares of Ball Corporation during the second quarter worth about $4,451,000. MRJ Capital Inc. acquired a new position in shares of Ball Corporation during the second quarter worth about $3,672,000. Finally, Atlantic Trust Group LLC acquired a new position in shares of Ball Corporation during the second quarter worth about $687,000. 46.59% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Investors Buy Ball Corporation (NYSE:BLL) on Weakness After Insider Selling” was reported by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/investors-buy-ball-corporation-nysebll-on-weakness-after-insider-selling/1466338.html.
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.
Receive News & Ratings for Ball Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ball Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.