Shares of metal and plastic packaging manufacturer for
beverages and foods,
) reached a new 52-week high of $51.77 on Dec 27. Ball
Corporation has a market cap of $7.46 billion. Average volume of
shares traded over the last three months stood at approximately
881,138. Ball Corporation has long-term estimated earnings per
share growth rate of 6.9%.
What's Driving Ball Corporation Upward?
Ball Corporation shares have escalated following its third
quarter earnings on Oct 24. Ball Corporation reported
third-quarter 2013 adjusted earnings of $1.00 per share, up 11%
year over year led by better-than-expected global beverage can
volumes and an improved seasonal vegetable harvest.
The company will continue to benefit from increased capacity in
the Alagoinhas plant in Brazil. The plant began production
earlier in 2012 and completed installation of a second can line
that is capable of manufacturing multiple can sizes. This
increased capacity will help the company to capitalize on the
increased demand, spurred by the upcoming soccer World Cup in
In December, Ball acquired Envases del Plata S.A. de C.V., a
leading producer of extruded aluminium aerosol packaging in
Mexico. Demand for extruded aluminum packaging for personal care
products continues to increase; thus providing new opportunities
for Ball's growing business.
In November, Ball Corporation announced the closure of steel
aerosol packaging manufacturing plant in Danville, Ill. Earlier
in February, the company announced that it will close its Elgin,
Ill., food and household products packaging facility in Dec 2013.
These closures are consistent with the company's strategy to
maintain an efficient manufacturing footprint and reduce costs.
Ball has also initiated cost cutting measures in Europe, the
benefits of which are expected to be realized in 2014 and 2015.
Other Stocks to Consider
Ball Corporation retains a short-term Zacks Rank #3 (Hold). Some
better-ranked stocks in the same sector include
Sealed Air Corporation
Packaging Corporation of America
UFP Technologies, Inc.
). While Packaging Corporation and Sealed Air hold a Zacks Rank
#1 (Strong Buy), UFP Technologies carries a Zacks Rank #2
BALL CORP (BLL): Free Stock Analysis Report
PACKAGING CORP (PKG): Free Stock Analysis
SEALED AIR CORP (SEE): Free Stock Analysis
UFP TECH INC (UFPT): Free Stock Analysis
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