CIBC Asset Management Inc Has $2.54 Million Holdings in Ball Co. (NYSE:BALL)

CIBC Asset Management Inc increased its holdings in shares of Ball Co. (NYSE:BALL) by 3.0% in the 4th quarter, HoldingsChannel.com reports. 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new stake in Ball during the fourth quarter worth about $774,000. Meeder Asset Management Inc. increased its position in shares of Ball by 400.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 162,690 shares of the company’s stock worth $11,048,000 after purchasing an additional 130,175 shares during the last quarter. Estate Counselors LLC bought a new stake in shares of Ball during the 3rd quarter worth approximately $1,825,000. Hemenway Trust Co LLC boosted its holdings in shares of Ball by 46.3% in the 3rd quarter. Hemenway Trust Co LLC now owns 275,083 shares of the company’s stock valued at $18,681,000 after buying an additional 87,120 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Ball by 531,933.3% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 47,883 shares of the company’s stock valued at $2,707,000 after buying an additional 47,874 shares in the last quarter. 86.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BALL. Mizuho raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target on the stock in a research report on Tuesday, December 10th. Citigroup dropped their target price on shares of Ball from $69.00 to $59.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Morgan Stanley reduced their price target on Ball from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Truist Financial dropped their price objective on Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Robert W. Baird reduced their target price on Ball from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.25.

Ball Stock Performance

BALL opened at $51.35 on Friday. 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 PE ratio of 4.06, a price-to-earnings-growth ratio of 1.19 and a beta of 0.94. The business has a fifty day simple moving average of $53.74 and a 200 day simple moving average of $60.01. Ball Co. has a 1 year low of $48.95 and a 1 year high of $71.32.

Ball (NYSE:BALL) last announced its earnings results on Tuesday, February 4th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Ball had a net margin of 33.98% and a return on equity of 16.17%. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. Ball’s quarterly revenue was down .8% on a year-over-year basis. Research analysts expect that Ball Co. will post 3.49 EPS for the current year.

Ball Announces Dividend

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

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

Ball 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.