Insider Selling: Ball Corporation (BLL) VP Sells 13,249 Shares of Stock
Ball Corporation (NYSE:BLL) VP Scott C. Morrison sold 13,249 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $40.35, for a total transaction of $534,597.15. Following the completion of the sale, the vice president now directly owns 392,091 shares of the company’s stock, valued at approximately $15,820,871.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Ball Corporation (NYSE:BLL) traded down 0.79% during mid-day trading on Tuesday, hitting $40.32. 1,938,911 shares of the stock were exchanged. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 57.19 and a beta of 0.95. The stock’s 50-day moving average is $41.86 and its 200-day moving average is $59.76. Ball Corporation has a 52 week low of $35.65 and a 52 week high of $43.06.
Ball Corporation (NYSE:BLL) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by $0.02. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Ball Corporation had a return on equity of 17.63% and a net margin of 1.70%. Ball Corporation’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. Analysts forecast that Ball Corporation will post $2.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors 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 yield of 0.99%. Ball Corporation’s dividend payout ratio is currently 78.43%.
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BLL has been the subject of a number of recent research reports. TheStreet raised shares of Ball Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Zacks Investment Research raised shares of Ball Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Tuesday, July 4th. BidaskClub raised shares of Ball Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Jefferies Group LLC reissued a “buy” rating and issued a $47.00 price objective on shares of Ball Corporation in a report on Sunday, June 25th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $47.00 price objective (up previously from $44.00) on shares of Ball Corporation in a report on Tuesday, July 18th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Ball Corporation currently has a consensus rating of “Hold” and a consensus target price of $44.05.
A number of institutional investors have recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Ball Corporation 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 buying an additional 1,225 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Ball Corporation 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 buying an additional 2,437 shares in the last quarter. American Research & Management Co. boosted its position in shares of Ball Corporation by 100.0% in the second quarter. American Research & Management Co. now owns 2,800 shares of the industrial products company’s stock valued at $118,000 after buying an additional 1,400 shares in the last quarter. Pinnacle Bank purchased a new position in shares of Ball Corporation during the first quarter valued at approximately $126,000. Finally, Korea Investment CORP boosted its position in shares of Ball Corporation 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 buying an additional 2,448 shares in the last quarter. 53.01% of the stock is owned by institutional investors.
Ball Corporation Company Profile
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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