Ball Co. Declares Quarterly Dividend of $0.20 (NYSE:BLL)

Ball Co. (NYSE:BLLGet Rating) announced a quarterly dividend on Wednesday, April 27th, RTT News reports. Shareholders of record on Wednesday, June 1st will be given a dividend of 0.20 per share by the industrial products company on Wednesday, June 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%.

Ball has raised its dividend by an average of 20.5% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Ball has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ball to earn $4.59 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 17.4%.

NYSE BLL opened at $81.01 on Thursday. Ball has a 12 month low of $77.95 and a 12 month high of $98.09. The stock has a market cap of $26.02 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 4.44 and a beta of 0.50. The company’s 50 day moving average is $89.08 and its two-hundred day moving average is $91.13. The company has a current ratio of 0.88, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10.

Ball (NYSE:BLLGet Rating) last released its quarterly earnings data on Thursday, January 27th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.07. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Ball had a net margin of 6.36% and a return on equity of 31.47%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. Sell-side analysts forecast that Ball will post 3.99 EPS for the current year.

Several research firms have recently issued reports on BLL. Morgan Stanley cut shares of Ball from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $110.00 to $100.00 in a research report on Thursday, January 20th. They noted that the move was a valuation call. Bank of America upgraded shares of Ball from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $108.00 in a research report on Monday, March 7th. Mizuho lifted their price objective on shares of Ball from $102.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, January 28th. Citigroup reduced their price objective on shares of Ball from $104.00 to $96.00 in a research report on Friday, April 8th. Finally, Zacks Investment Research upgraded shares of Ball from a “sell” rating to a “hold” rating and set a $93.00 price objective on the stock in a research report on Friday, April 8th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Ball currently has an average rating of “Hold” and a consensus target price of $103.33.

In other news, Director Betty J. Sapp acquired 1,362 shares of the company’s stock in a transaction on Thursday, March 10th. The stock was bought at an average cost of $85.55 per share, with a total value of $116,519.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nate C. Carey sold 2,530 shares of Ball stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $90.50, for a total transaction of $228,965.00. The disclosure for this sale can be found here. Insiders have acquired 15,862 shares of company stock valued at $1,381,499 over the last ninety days. 1.40% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Toroso Investments LLC boosted its stake in shares of Ball by 17.5% during the fourth quarter. Toroso Investments LLC now owns 3,964 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 591 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of Ball by 7.1% during the fourth quarter. Flagship Harbor Advisors LLC now owns 5,092 shares of the industrial products company’s stock valued at $490,000 after purchasing an additional 337 shares during the period. JustInvest LLC boosted its stake in shares of Ball by 23.8% during the fourth quarter. JustInvest LLC now owns 7,118 shares of the industrial products company’s stock valued at $685,000 after purchasing an additional 1,368 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Ball by 7.6% during the fourth quarter. EP Wealth Advisors LLC now owns 7,204 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 510 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Ball by 14.9% during the fourth quarter. Squarepoint Ops LLC now owns 9,200 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 1,196 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Ball Company Profile (Get Rating)

Ball Corp. provides metal packaging for beverages, foods, and household products. It operates through the following business segments: Beverage Packaging North and Central America, Beverage Packaging South America, Beverage Packaging Europe, Middle East and Africa (EMEA), and Aerospace. The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

See Also

Dividend History for Ball (NYSE:BLL)

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