Ball Co. (NYSE:BALL) Shares Sold by Cibc World Markets Corp

Posted by Defense World Staff on Sep 3rd, 2023

Cibc World Markets Corp decreased its position in shares of Ball Co. (NYSE:BALL – Free Report) by 57.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,875 shares of the company’s stock after selling 21,031 shares during the period. Cibc World Markets Corp’s holdings in Ball were worth $875,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC grew its stake in shares of Ball by 16.6% in the 1st quarter. Parnassus Investments LLC now owns 20,204,197 shares of the company’s stock valued at $1,113,453,000 after purchasing an additional 2,878,786 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Ball by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,927,172 shares of the company’s stock valued at $456,536,000 after purchasing an additional 262,165 shares during the last quarter. Morgan Stanley grew its stake in shares of Ball by 17.7% in the 4th quarter. Morgan Stanley now owns 7,979,673 shares of the company’s stock valued at $408,081,000 after purchasing an additional 1,200,145 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Ball by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,663,282 shares of the company’s stock valued at $340,165,000 after buying an additional 140,905 shares in the last quarter. Finally, Putnam Investments LLC boosted its stake in shares of Ball by 5.5% in the fourth quarter. Putnam Investments LLC now owns 3,980,727 shares of the company’s stock valued at $203,574,000 after buying an additional 207,346 shares in the last quarter. Institutional investors and hedge funds own 84.79% of the company’s stock.

Insider Activity at Ball

In related news, VP Deron Goodwin sold 500 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $52.85, for a total value of $26,425.00. Following the completion of the transaction, the vice president now directly owns 12,001 shares in the company, valued at $634,252.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ball news, insider David A. Kaufman sold 3,820 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $52.41, for a total transaction of $200,206.20. Following the completion of the sale, the insider now owns 8,861 shares of the company’s stock, valued at $464,405.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Deron Goodwin sold 500 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $52.85, for a total value of $26,425.00. Following the sale, the vice president now directly owns 12,001 shares of the company’s stock, valued at approximately $634,252.85. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Ball Stock Performance

NYSE BALL opened at $54.93 on Friday. Ball Co. has a fifty-two week low of $46.00 and a fifty-two week high of $62.14. The stock has a market cap of $17.31 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 3.47 and a beta of 0.80. The business has a fifty day moving average of $56.33 and a 200-day moving average of $54.99. The company has a quick ratio of 0.50, a current ratio of 0.78 and a debt-to-equity ratio of 1.92.

Ball (NYSE:BALL – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.84 billion. Ball had a return on equity of 21.43% and a net margin of 5.48%. The business’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, analysts predict that Ball Co. will post 3.03 earnings per share for the current fiscal year.

Ball Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.80 annualized dividend and a yield of 1.46%. Ball’s payout ratio is currently 31.75%.

Analyst Ratings Changes

BALL has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Ball from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 10th. Jefferies Financial Group lifted their price target on Ball from $59.00 to $61.00 in a research note on Tuesday, July 18th. Wells Fargo & Company upgraded Ball from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $52.00 to $55.00 in a research note on Tuesday, June 20th. Bank of America downgraded Ball from a “buy” rating to a “neutral” rating and decreased their price target for the company from $65.00 to $63.00 in a research note on Monday, July 10th. Finally, Citigroup lifted their price objective on Ball from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.60.

Check Out Our Latest Stock Report on BALL

Ball Company Profile

(Free Report)

Ball Corp. provides metal packaging for beverages, foods, and household products. It operates through the following business segments: Beverage Packaging North and Central America, Beverage Packaging South America, Beverage Packaging Europe, Middle East and Africa (EMEA), and Aerospace. The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.