Trade Report: Today, Ball Corp. (BLL) Bonds Trading 0.7% Higher

Today, Ball Corp. (BLL) Bonds Trading 0.7% Higher

An issue of Ball Corp. (NYSE:BLL) debt rose 0.7% against its face value during trading on Friday. The debt issue has a 4.375% coupon and will mature on December 15, 2020. The bonds in the issue are now trading at $105.73 and were trading at $104.63 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

Several equities analysts recently weighed in on the company. Bank of America Corp. reiterated a “buy” rating and set a $90.00 target price on shares of Ball Corp. in a research report on Thursday, September 29th. Zacks Investment Research upgraded Ball Corp. from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Wednesday, October 5th. Robert W. Baird restated an “outperform” rating and set a $85.00 price target on shares of Ball Corp. in a research note on Sunday, August 7th. TheStreet upgraded Ball Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. increased their target price on Ball Corp. from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $85.29.

Shares of Ball Corp. (NYSE:BLL) traded down 0.79% during mid-day trading on Friday, hitting $77.05. The stock had a trading volume of 603,420 shares. Ball Corp. has a 12-month low of $62.30 and a 12-month high of $82.24. The stock’s 50-day moving average price is $78.10 and its 200-day moving average price is $75.84. The stock has a market capitalization of $13.47 billion, a price-to-earnings ratio of 44.18 and a beta of 1.05.

Ball Corp. (NYSE:BLL) last announced its earnings results on Thursday, November 3rd. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.85 billion. Ball Corp. had a return on equity of 20.89% and a net margin of 3.54%. Ball Corp.’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 EPS. On average, equities analysts anticipate that Ball Corp. will post $3.46 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Tuesday, November 29th. Ball Corp.’s payout ratio is currently 25.62%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. AMP Capital Investors Ltd increased its position in Ball Corp. by 14.5% in the first quarter. AMP Capital Investors Ltd now owns 49,015 shares of the company’s stock valued at $3,475,000 after buying an additional 6,219 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Ball Corp. by 1.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 80,440 shares of the company’s stock valued at $5,735,000 after buying an additional 1,402 shares in the last quarter. Arizona State Retirement System increased its position in Ball Corp. by 4.9% in the first quarter. Arizona State Retirement System now owns 38,406 shares of the company’s stock valued at $2,738,000 after buying an additional 1,800 shares in the last quarter. Seven Eight Capital LLC purchased a new position in Ball Corp. during the first quarter valued at about $500,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Ball Corp. by 1.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,396 shares of the company’s stock valued at $600,000 after buying an additional 117 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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