Ball Co. (BLL) Shares Set to Split on Wednesday, May 17th
Shares of Ball Co. (NYSE:BLL) are going to split on Wednesday, May 17th. The 2-1 split was announced on Wednesday, April 26th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, May 16th.
Ball (NYSE:BLL) traded up 0.28% during mid-day trading on Friday, reaching $39.86. 726,786 shares of the company’s stock were exchanged. Ball has a 12 month low of $39.34 and a 12 month high of $82.24. The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 29.66 and a beta of 0.98. The stock has a 50-day moving average of $73.56 and a 200-day moving average of $74.91.
Ball (NYSE:BLL) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.41 billion. Ball had a net margin of 2.81% and a return on equity of 18.44%. The company’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. Analysts anticipate that Ball will post $2.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, May 30th. This is a boost from Ball’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 1.01%. Ball’s dividend payout ratio is 30.23%.
BLL has been the subject of a number of research reports. BMO Capital Markets restated a “hold” rating and issued a $39.50 price target on shares of Ball in a report on Wednesday, April 12th. TheStreet lowered shares of Ball from a “b” rating to a “c+” rating in a research note on Thursday, February 2nd. Zacks Investment Research lowered shares of Ball from a “hold” rating to a “sell” rating in a research report on Wednesday, February 1st. Jefferies Group LLC lowered their price objective on shares of Ball from $46.50 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Ball in a research report on Monday, February 6th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $42.23.
In related news, SVP Lisa Ann Pauley sold 5,752 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $73.89, for a total transaction of $425,015.28. Following the completion of the sale, the senior vice president now directly owns 54,437 shares in the company, valued at approximately $4,022,349.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Daniel William Fisher sold 1,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $79.75, for a total transaction of $79,750.00. Following the transaction, the chief operating officer now directly owns 4,922 shares in the company, valued at $392,529.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,793 shares of company stock valued at $1,485,250. Company insiders own 3.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BLL. Bessemer Group Inc. boosted its position in Ball by 35.7% in the fourth quarter. Bessemer Group Inc. now owns 1,385 shares of the industrial products company’s stock valued at $104,000 after buying an additional 364 shares in the last quarter. Pinnacle Bank acquired a new position in shares of Ball during the first quarter valued at $126,000. First Personal Financial Services boosted its position in shares of Ball by 17.1% in the first quarter. First Personal Financial Services now owns 1,797 shares of the industrial products company’s stock valued at $133,000 after buying an additional 262 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Ball during the first quarter valued at $201,000. Finally, Advisor Partners LLC acquired a new position in shares of Ball during the first quarter valued at $201,000. Institutional investors and hedge funds own 83.42% of the company’s stock.
Ball 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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