CIBC Bancorp USA Inc. Invests $8.36 Million in Ball Corporation $BALL

CIBC Bancorp USA Inc. purchased a new stake in shares of Ball Corporation (NYSE:BALL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 165,822 shares of the company’s stock, valued at approximately $8,361,000. CIBC Bancorp USA Inc. owned approximately 0.06% of Ball as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Endeavor Private Wealth Inc. purchased a new stake in Ball in the third quarter worth about $583,000. Iridian Asset Management LLC CT lifted its holdings in Ball by 73.7% during the third quarter. Iridian Asset Management LLC CT now owns 46,624 shares of the company’s stock worth $2,351,000 after buying an additional 19,776 shares during the period. Rakuten Investment Management Inc. purchased a new stake in Ball during the third quarter worth $464,000. Campbell & CO Investment Adviser LLC bought a new stake in Ball during the 3rd quarter valued at $2,682,000. Finally, Cibc World Market Inc. purchased a new stake in shares of Ball during the 3rd quarter worth $5,570,000. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ball news, SVP Kathleen Pitre sold 10,660 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $66.63, for a total transaction of $710,275.80. Following the transaction, the senior vice president directly owned 36,772 shares of the company’s stock, valued at approximately $2,450,118.36. This trade represents a 22.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Fauze Villatoro bought 1,551 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of $64.51 per share, for a total transaction of $100,055.01. Following the acquisition, the senior vice president owned 13,778 shares of the company’s stock, valued at approximately $888,818.78. This trade represents a 12.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on BALL shares. Jefferies Financial Group boosted their price objective on shares of Ball from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “hold (c)” rating on shares of Ball in a research note on Monday, December 29th. Morgan Stanley set a $66.00 target price on Ball in a research note on Wednesday, February 4th. Royal Bank Of Canada dropped their price target on Ball from $74.00 to $71.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, UBS Group restated a “neutral” rating and set a $66.00 price objective on shares of Ball in a report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.77.

Ball Trading Down 3.4%

NYSE BALL opened at $57.01 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.11 and a quick ratio of 0.75. The stock has a market capitalization of $15.17 billion, a P/E ratio of 17.17, a PEG ratio of 1.17 and a beta of 1.10. The firm’s 50-day moving average is $61.86 and its two-hundred day moving average is $53.95. Ball Corporation has a 12 month low of $43.51 and a 12 month high of $68.29.

Ball (NYSE:BALL) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.01. Ball had a net margin of 6.93% and a return on equity of 18.12%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. The business’s quarterly revenue was up 16.2% on a year-over-year basis. Ball has set its FY 2026 guidance at 3.930- EPS. On average, sell-side analysts anticipate that Ball Corporation will post 3.48 earnings per share for the current year.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, March 2nd. Ball’s dividend payout ratio (DPR) is currently 24.10%.

About Ball

Ball Corporation is a leading provider of sustainable aluminum packaging solutions and advanced aerospace technologies. Headquartered in Broomfield, Colorado, the company serves customers in the beverage, food and aerosol markets through a global network of manufacturing facilities. With an emphasis on sustainability and innovation, Ball designs and produces metal cans, bottles and ends that support recycling and reduce environmental impact.

The company’s packaging segment specializes in beverage cans for soft drinks, beer and energy drinks, as well as metal packaging for food and personal care applications.