A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research raised Ball from a sell rating to a hold rating in a research report on Wednesday, October 10th. JPMorgan Chase & Co. upped their target price on Ball from $51.00 to $53.00 and gave the stock an overweight rating in a research note on Friday, November 2nd. Citigroup upped their target price on Ball from $51.00 to $55.00 and gave the stock a buy rating in a research note on Friday, November 2nd. Robert W. Baird increased their price target on Ball from $52.00 to $55.00 and gave the company an outperform rating in a research note on Friday, November 2nd. Finally, Bank of America raised their target price on Ball from $54.00 to $55.00 and gave the stock a buy rating in a research report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $53.08.
NYSE BLL traded up $0.43 on Tuesday, reaching $55.21. The company had a trading volume of 2,349,125 shares, compared to its average volume of 2,886,770. Ball has a 1 year low of $34.71 and a 1 year high of $55.64. The stock has a market cap of $18.74 billion, a PE ratio of 25.10, a P/E/G ratio of 3.85 and a beta of 0.84. The company has a quick ratio of 0.65, a current ratio of 0.96 and a debt-to-equity ratio of 1.83.
Ball (NYSE:BLL) last announced its quarterly earnings data on Thursday, January 31st. The industrial products company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Ball had a return on equity of 20.08% and a net margin of 3.90%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.68 billion. Sell-side analysts anticipate that Ball will post 2.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.72%. Ball’s dividend payout ratio (DPR) is currently 18.18%.
Ball declared that its board has approved a share repurchase plan on Wednesday, January 23rd that permits the company to buyback 50,000,000 shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Ball news, Chairman John A. Hayes sold 91,701 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $55.20, for a total value of $5,061,895.20. Following the sale, the chairman now owns 467,844 shares in the company, valued at $25,824,988.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert D. Strain sold 5,066 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $54.93, for a total transaction of $278,275.38. Following the completion of the sale, the vice president now owns 47,747 shares in the company, valued at approximately $2,622,742.71. The disclosure for this sale can be found here. Insiders have sold a total of 117,444 shares of company stock valued at $6,437,098 over the last 90 days. Company insiders own 2.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BLL. Canada Pension Plan Investment Board grew its holdings in shares of Ball by 168.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 306,988 shares of the industrial products company’s stock valued at $14,114,000 after purchasing an additional 192,786 shares during the period. Three Peaks Capital Management LLC acquired a new position in shares of Ball during the 3rd quarter valued at about $3,033,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Ball by 2.1% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 453,298 shares of the industrial products company’s stock valued at $20,843,000 after acquiring an additional 9,526 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ball by 19.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,437,502 shares of the industrial products company’s stock valued at $107,228,000 after acquiring an additional 398,984 shares during the last quarter. Finally, Roosevelt Investment Group Inc. acquired a new position in shares of Ball during the 4th quarter valued at about $964,000. Institutional investors and hedge funds own 85.72% of the company’s stock.
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.
Featured Article: What is a balanced fund?
Receive News & Ratings for Ball Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ball and related companies with MarketBeat.com's FREE daily email newsletter.