CIBC Asset Management Inc Buys 1,323 Shares of Ball Co. (NYSE:BALL)

CIBC Asset Management Inc raised its stake in Ball Co. (NYSE:BALL) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,982 shares of the company’s stock after acquiring an additional 1,323 shares during the period. CIBC Asset Management Inc’s holdings in Ball were worth $2,535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in shares of Ball during the third quarter worth $30,000. Catalyst Capital Advisors LLC bought a new position in Ball in the 3rd quarter worth approximately $47,000. Brooklyn Investment Group acquired a new position in Ball during the 3rd quarter worth $66,000. Farther Finance Advisors LLC boosted its position in Ball by 29.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock valued at $69,000 after buying an additional 228 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Ball in the 4th quarter valued at $76,000. 86.51% of the stock is owned by institutional investors.

Ball Stock Up 1.8 %

Shares of Ball stock opened at $51.35 on Friday. Ball Co. has a 1 year low of $48.95 and a 1 year high of $71.32. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market capitalization of $15.33 billion, a P/E ratio of 4.06, a price-to-earnings-growth ratio of 1.19 and a beta of 0.94. The business has a 50-day moving average of $53.74 and a two-hundred day moving average of $60.01.

Ball (NYSE:BALL) last announced its earnings results on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.92 billion. Ball had a net margin of 33.98% and a return on equity of 16.17%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. As a group, equities analysts predict that Ball Co. will post 3.49 EPS for the current year.

Ball Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Monday, March 3rd. Ball’s payout ratio is presently 6.32%.

Ball announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 24.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BALL shares. Royal Bank of Canada decreased their price target on Ball from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. UBS Group dropped their price target on shares of Ball from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Mizuho raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price objective on the stock in a research note on Tuesday, December 10th. Truist Financial dropped their target price on shares of Ball from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $49.00 price target (down from $56.00) on shares of Ball in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.25.

Ball Company Profile

Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.