Daniel Fisher, President at Ball Corporation (BLL), recently picked up 7,000 shares. The buy increased his holdings by 6.7 percent, and came to a total price just over $601,000.
He was joined by a director who picked up 1,362 shares, a purchase that increased her holdings by 91 percent, and came to a total price just over $116,000. This follows up on a number of insider buys over the past few months.
Over the past three years, insiders have been more likely to be sellers of shares, particularly going back to 2019. And there was a massive series of insider buying back in August 2021. Overall, company insiders own 0.67 percent of the company.
Shares of the packaging giant are up about 5 percent over the past year, about in-line with the S&P 500. Earnings have surged 31 percent, and revenue is up 18 percent.
Action to take: Investors may like shares for the long term here, as growth will likely be tied to overall economic prosperity. The stock yields just under 1 percent right now, but the company has a history of growing its dividend.
For traders, the May $95 calls look attractive here for a rebound. The options last went for around $3.20, and can likely deliver mid-double-digit gains at a minimum.
Given that shares have peaked in the high $90s, traders should look to close out of any bounce higher in shares and take a quick profit.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.