Insider Selling: Ball Co. (NYSE:BLL) Chairman Sells 9,648 Shares of Stock

Ball Co. (NYSE:BLL) Chairman John A. Hayes sold 9,648 shares of Ball stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $74.24, for a total transaction of $716,267.52. Following the transaction, the chairman now owns 438,487 shares in the company, valued at approximately $32,553,274.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

NYSE BLL traded up $1.34 during mid-day trading on Wednesday, reaching $75.29. 1,379,448 shares of the stock were exchanged, compared to its average volume of 2,362,132. The business has a 50 day simple moving average of $70.64. Ball Co. has a 1 year low of $39.41 and a 1 year high of $76.28. The stock has a market cap of $25.02 billion, a P/E ratio of 34.22, a P/E/G ratio of 5.24 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 1.10 and a debt-to-equity ratio of 1.94.

Ball (NYSE:BLL) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). Ball had a return on equity of 21.32% and a net margin of 4.54%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period last year, the company posted $0.58 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts forecast that Ball Co. will post 2.59 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, August 30th. Ball’s dividend payout ratio (DPR) is presently 27.27%.

A number of research analysts recently weighed in on BLL shares. Morgan Stanley lifted their target price on shares of Ball from $71.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday. KeyCorp reiterated a “hold” rating on shares of Ball in a research note on Friday, August 2nd. Vertical Research lowered shares of Ball from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. ValuEngine lowered shares of Ball from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Co lowered shares of Ball from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $68.00 to $72.00 in a research note on Monday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.76.

A number of hedge funds and other institutional investors have recently made changes to their positions in BLL. Next Capital Management LLC purchased a new position in Ball during the second quarter valued at $25,000. Whittier Trust Co. lifted its holdings in Ball by 56.0% during the second quarter. Whittier Trust Co. now owns 496 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 178 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new position in Ball during the first quarter valued at $30,000. Pearl River Capital LLC purchased a new position in Ball during the first quarter valued at $30,000. Finally, Tortoise Investment Management LLC lifted its holdings in Ball by 663.3% during the second quarter. Tortoise Investment Management LLC now owns 748 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 650 shares in the last quarter. 81.06% of the stock is currently owned by hedge funds and other institutional investors.

Ball Company Profile

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.

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Insider Buying and Selling by Quarter for Ball (NYSE:BLL)

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