Ball Co. (NYSE:BALL) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its holdings in shares of Ball Co. (NYSE:BALL) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 44,659 shares of the company’s stock after selling 206 shares during the period. 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 hedge funds also recently added to or reduced their stakes in BALL. Broderick Brian C raised its position in Ball by 37.7% during the third quarter. Broderick Brian C now owns 70,219 shares of the company’s stock valued at $4,769,000 after acquiring an additional 19,220 shares in the last quarter. ING Groep NV purchased a new stake in Ball during the third quarter worth $2,757,000. Metis Global Partners LLC grew its position in Ball by 5.0% during the third quarter. Metis Global Partners LLC now owns 14,898 shares of the company’s stock valued at $1,012,000 after buying an additional 712 shares during the period. KBC Group NV increased its holdings in Ball by 402.1% in the third quarter. KBC Group NV now owns 265,261 shares of the company’s stock valued at $18,014,000 after buying an additional 212,430 shares in the last quarter. Finally, MQS Management LLC boosted its stake in shares of Ball by 10.0% during the 3rd quarter. MQS Management LLC now owns 8,873 shares of the company’s stock worth $603,000 after acquiring an additional 808 shares in the last quarter. 86.51% of the stock is owned by hedge funds and other institutional investors.

Ball Stock Down 0.1 %

NYSE:BALL opened at $60.86 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of 4.59, a price-to-earnings-growth ratio of 1.53 and a beta of 0.90. Ball Co. has a 52 week low of $51.65 and a 52 week high of $71.32. The stock’s fifty day moving average is $64.44 and its two-hundred day moving average is $64.53.

Ball (NYSE:BALL) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Ball had a net margin of 34.05% and a return on equity of 17.46%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Research analysts anticipate that Ball Co. will post 3.15 EPS for the current year.

Ball Dividend Announcement

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

Analyst Ratings Changes

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

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.