CIBC Asset Management Inc Cuts Holdings in Ball Co. (NYSE:BALL)

CIBC Asset Management Inc reduced its holdings in shares of Ball Co. (NYSE:BALL) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,659 shares of the company’s stock after selling 206 shares during the quarter. CIBC Asset Management Inc’s holdings in Ball were worth $3,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. US Bancorp DE increased its holdings in Ball by 1.7% during the first quarter. US Bancorp DE now owns 16,810 shares of the company’s stock valued at $1,133,000 after buying an additional 288 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Ball by 37.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,230 shares of the company’s stock worth $352,000 after purchasing an additional 1,431 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in Ball by 436.8% during the 1st quarter. UniSuper Management Pty Ltd now owns 18,010 shares of the company’s stock valued at $1,213,000 after purchasing an additional 14,655 shares during the period. Bessemer Group Inc. lifted its holdings in Ball by 16.8% in the 1st quarter. Bessemer Group Inc. now owns 3,734 shares of the company’s stock worth $251,000 after purchasing an additional 538 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in shares of Ball during the first quarter valued at approximately $270,000. 86.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BALL has been the topic of several research analyst reports. Robert W. Baird upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price target on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 target price on shares of Ball in a research report on Monday, November 4th. Mizuho dropped their price objective on shares of Ball from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company reduced their price objective on Ball from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Citigroup lifted their target price on Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.75.

Ball Stock Performance

Shares of Ball stock opened at $60.86 on Tuesday. Ball Co. has a one year low of $51.65 and a one year high of $71.32. The company has a market capitalization of $18.16 billion, a PE ratio of 4.59, a P/E/G ratio of 1.53 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 1.09. The company has a 50-day simple moving average of $64.44 and a two-hundred day simple moving average of $64.53.

Ball (NYSE:BALL) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Ball had a return on equity of 17.46% and a net margin of 34.05%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the business posted $0.83 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts expect that Ball Co. will post 3.15 EPS for the current fiscal year.

Ball Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.20 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. Ball’s dividend payout ratio is currently 6.03%.

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.