Ball Co. (NYSE:BALL – Get Rating) shares saw strong trading volume on Friday after Mizuho raised their price target on the stock from $51.00 to $53.00. Mizuho currently has a neutral rating on the stock. 36,059 shares changed hands during mid-day trading, a decline of 98% from the previous session's volume of 1,481,819 shares.The stock last traded at $56.74 and had previously closed at $57.15.
Other equities analysts have also issued research reports about the company. Bank of America cut their price target on Ball from $68.00 to $60.00 in a research note on Thursday, October 13th. Wells Fargo & Company lowered their price objective on Ball from $53.00 to $46.00 and set an "underweight" rating on the stock in a research note on Friday, September 23rd. UBS Group decreased their price target on Ball from $64.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, December 15th. Barclays lifted their target price on Ball to $55.00 in a report on Tuesday, November 15th. Finally, Credit Suisse Group dropped their price objective on Ball from $77.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, September 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $57.50.
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Insider Activity at Ball
In other news, Director Cynthia A. Niekamp purchased 2,000 shares of the company's stock in a transaction dated Thursday, November 10th. The shares were acquired at an average cost of $51.81 per share, for a total transaction of $103,620.00. Following the completion of the purchase, the director now directly owns 11,000 shares in the company, valued at approximately $569,910. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ball news, insider Daniel William Fisher acquired 6,400 shares of the company's stock in a transaction dated Monday, December 5th. The stock was bought at an average price of $54.42 per share, with a total value of $348,288.00. Following the completion of the transaction, the insider now directly owns 107,997 shares of the company's stock, valued at $5,877,196.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cynthia A. Niekamp purchased 2,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The shares were purchased at an average cost of $51.81 per share, with a total value of $103,620.00. Following the completion of the acquisition, the director now owns 11,000 shares in the company, valued at approximately $569,910. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Covington Capital Management acquired a new position in Ball during the 3rd quarter valued at about $26,000. MinichMacGregor Wealth Management LLC acquired a new stake in Ball in the fourth quarter valued at approximately $31,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Ball in the third quarter valued at approximately $30,000. General Partner Inc. bought a new position in shares of Ball in the fourth quarter valued at approximately $35,000. Finally, Versant Capital Management Inc bought a new position in Ball during the third quarter worth $35,000. 82.65% of the stock is currently owned by institutional investors.
Ball Price Performance
The firm has a market cap of $17.83 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.72. The company has a quick ratio of 0.58, a current ratio of 0.94 and a debt-to-equity ratio of 2.36. The stock's 50-day moving average is $53.57 and its 200-day moving average is $56.93.
Ball (NYSE:BALL – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.01). Ball had a return on equity of 29.07% and a net margin of 6.21%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.93 billion. As a group, equities analysts anticipate that Ball Co. will post 2.88 EPS for the current fiscal year.
Ball Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, November 30th. Ball's dividend payout ratio is 27.03%.
Ball Company Profile
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Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. It operates through four segments: Beverage Packaging, North and Central America; Beverage Packaging, Europe, Middle East and Africa; Beverage Packaging, South America; and Aerospace.
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