Short Interest in Ball Corp. (BLL) Decreases By 26.7%
Ball Corp. (NYSE:BLL) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 9,937,345 shares, a decline of 26.7% from the October 31st total of 13,560,527 shares. Based on an average trading volume of 1,700,873 shares, the short-interest ratio is presently 5.8 days. Approximately 6.0% of the shares of the stock are short sold.
Several analysts have weighed in on the stock. Jefferies Group boosted their price target on shares of Ball Corp. from $86.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Bank of America Corp. reissued a “buy” rating and issued a $90.00 price target on shares of Ball Corp. in a research note on Thursday, September 29th. Vertical Group downgraded shares of Ball Corp. to a “hold” rating in a research note on Friday, August 5th. Robert W. Baird reissued an “outperform” rating and issued a $85.00 price target on shares of Ball Corp. in a research note on Sunday, August 7th. Finally, Citigroup Inc. boosted their price target on shares of Ball Corp. from $77.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ball Corp. has an average rating of “Buy” and a consensus price target of $85.29.
A number of institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Ball Corp. by 28.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 15,125,555 shares of the company’s stock worth $1,239,539,000 after buying an additional 3,314,765 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Ball Corp. during the third quarter worth approximately $1,552,000. LPL Financial LLC boosted its position in shares of Ball Corp. by 80.2% in the third quarter. LPL Financial LLC now owns 17,820 shares of the company’s stock worth $1,415,000 after buying an additional 7,932 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Ball Corp. by 20.6% in the third quarter. Ameritas Investment Partners Inc. now owns 4,165 shares of the company’s stock worth $341,000 after buying an additional 712 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of Ball Corp. during the third quarter worth approximately $282,000. 81.93% of the stock is owned by institutional investors.
Ball Corp. (NYSE:BLL) opened at 75.06 on Thursday. The stock has a market cap of $13.12 billion, a PE ratio of 43.04 and a beta of 1.05. The company’s 50 day moving average is $78.01 and its 200 day moving average is $75.97. Ball Corp. has a 12 month low of $62.30 and a 12 month high of $82.24.
Ball Corp. (NYSE:BLL) last posted its earnings results on Thursday, November 3rd. The company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.01. The company earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Ball Corp. had a net margin of 3.54% and a return on equity of 20.89%. Ball Corp.’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period last year, the company posted $1.10 earnings per share. On average, analysts anticipate that Ball Corp. will post $3.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.52 annualized dividend and a yield of 0.69%. Ball Corp.’s payout ratio is 25.62%.
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Ball Corp. Company Profile
Ball Corporation (Ball) 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. The Company operates in four segments: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies.
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