Canada Pension Plan Investment Board Raises Stake in Ball Co. (NYSE:BALL)

Canada Pension Plan Investment Board lifted its stake in Ball Co. (NYSE:BALLFree Report) by 57.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 421,959 shares of the company’s stock after purchasing an additional 154,000 shares during the quarter. Canada Pension Plan Investment Board owned about 0.13% of Ball worth $21,005,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. IFM Investors Pty Ltd grew its stake in Ball by 4.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 61,439 shares of the company’s stock valued at $3,576,000 after purchasing an additional 2,336 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Ball in the third quarter valued at approximately $22,339,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Ball by 75.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,006 shares of the company’s stock worth $50,000 after acquiring an additional 431 shares during the period. Boston Common Asset Management LLC raised its stake in shares of Ball by 16.6% during the 3rd quarter. Boston Common Asset Management LLC now owns 142,570 shares of the company’s stock valued at $7,097,000 after buying an additional 20,311 shares during the last quarter. Finally, Wintrust Investments LLC raised its position in Ball by 11.2% during the second quarter. Wintrust Investments LLC now owns 5,123 shares of the company’s stock valued at $298,000 after acquiring an additional 515 shares in the last quarter. 84.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BALL shares. Truist Financial lifted their price target on Ball from $54.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Mizuho upped their target price on Ball from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, December 28th. Wells Fargo & Company cut their price target on shares of Ball from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 19th. Bank of America downgraded shares of Ball from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $61.00 to $59.00 in a report on Tuesday, January 2nd. Finally, Jefferies Financial Group cut their target price on shares of Ball from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ball currently has a consensus rating of “Hold” and an average price target of $59.00.

Read Our Latest Stock Analysis on Ball

Ball Stock Up 0.1 %

Ball stock opened at $59.17 on Monday. Ball Co. has a twelve month low of $42.81 and a twelve month high of $61.13. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.96. The stock has a 50 day moving average of $57.17 and a two-hundred day moving average of $53.46. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 3.74 and a beta of 0.87.

Ball (NYSE:BALLGet Free Report) last issued its earnings results on Thursday, February 1st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. Ball had a net margin of 5.04% and a return on equity of 23.81%. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, research analysts expect that Ball Co. will post 3.16 earnings per share for the current year.

Ball Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. Ball’s dividend payout ratio is presently 35.71%.

Insider Activity at Ball

In other Ball news, COO Ronald J. Lewis acquired 4,637 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were acquired at an average cost of $53.91 per share, for a total transaction of $249,980.67. Following the transaction, the chief operating officer now directly owns 29,797 shares of the company’s stock, valued at $1,606,356.27. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

About Ball

(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.

See Also

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Institutional Ownership by Quarter for Ball (NYSE:BALL)

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