Ball Corporation Declares Dividend of $0.13 per Share
Ball Corporation (BLL) has a market cap of $13.9 billion. It fell 0.28% to close at $79.53 per share on October 26, 2016.
Oct. 27 2016, Updated 5:04 p.m. ET
Price movement
Ball Corporation (BLL) has a market cap of $13.9 billion. It fell 0.28% to close at $79.53 per share on October 26, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -3.0%, -0.04%, and 9.9%, respectively, on the same day.
BLL is trading 0.42% below its 20-day moving average, 0.01% below its 50-day moving average, and 9.1% above its 200-day moving average.
Related ETF and peers
The Vanguard Mid-Cap ETF (VO) invests 0.33% of its holdings in Ball Corporation. The ETF tracks the CRSP US Mid-Cap Index, a diversified index of mid-cap US companies. The YTD price movement of VO was 5.7% on October 26.
The market caps of Ball’s competitors are as follows:
Ball declared dividend
Ball Corporation has declared a quarterly cash dividend of $0.13 per share on its common stock. The dividend will be paid on December 15, 2016, to shareholders of record as of December 1, 2016.
Ball’s performance in 2Q16
Ball Corporation reported 2Q16 net sales of $2.0 billion, a fall of 9.1% compared to net sales of $2.2 billion in 2Q15. Below are sales of the company’s segments in 2Q16 compared to 2Q15:
- metal beverage packaging for Americas & Asia: fell 7.0%
- metal beverage packaging for Europe: fell 0.42%
- metal food and aerosol packaging: fell 10.2%
- aerospace: fell 16.1%
Ball reported business consolidation and other activities expenses of $16.0 million in 2Q16 compared to $66.0 million in 2Q15. The company’s cost of sales as a percentage of net sales and EBIT (earnings before interest and taxes) fell 2.2% and 2.6%, respectively, in 2Q16 compared to the prior year’s period.
Its net income and EPS (earnings per share) rose to $369.0 million and $2.54, respectively, in 2Q16 compared to $160.0 million and $1.13, respectively, in 2Q15. It reported adjusted EPS of $1.05 in 2Q16, a rise of 18.0% compared to 2Q15.
Ball’s net receivables and net inventories rose 59.3% and 59.6%, respectively, in 2Q16 compared to 2Q15. It reported cash and cash equivalents of $6.4 billion in 2Q16 compared to $227.0 million in 2Q15. Its current ratio and long-term debt-to-equity ratio fell to 1.0x and 2.1x, respectively, in 2Q16 compared to 1.1x and 2.2x, respectively, in 2Q15.
The company has projected free cash flow of $750 million–$850 million for 2017.
Next, we’ll look at Kimberly-Clark (KMB).
