Connor Clark & Lunn Investment Management Ltd. Takes $5.80 Million Position in Ball Corporation (NYSE:BALL)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new stake in Ball Corporation, purchasing 111,344 shares valued at approximately $5.8 million.
• Ball Corporation recently reported earnings of $0.90 per share, surpassing analyst expectations, and its revenue for the quarter was up 12.8% year-over-year.
• The company announced a quarterly dividend of $0.20 per share, which will yield approximately 1.5% annually for shareholders.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ball Corporation (NYSE:BALL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 111,344 shares of the company's stock, valued at approximately $5,798,000.

A number of other institutional investors have also recently bought and sold shares of BALL. Cary Street Partners Investment Advisory LLC purchased a new stake in Ball in the first quarter valued at approximately $32,000. Whipplewood Advisors LLC grew its stake in Ball by 764.9% during the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock worth $42,000 after buying an additional 719 shares during the period. Federated Hermes Inc. grew its stake in Ball by 40.4% during the first quarter. Federated Hermes Inc. now owns 1,311 shares of the company's stock worth $68,000 after buying an additional 377 shares during the period. Parvin Asset Management LLC purchased a new stake in Ball during the fourth quarter worth approximately $70,000. Finally, Farther Finance Advisors LLC grew its stake in Ball by 51.3% during the first quarter. Farther Finance Advisors LLC now owns 1,474 shares of the company's stock worth $77,000 after buying an additional 500 shares during the period. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Ball Stock Up 0.4%

Shares of Ball stock traded up $0.19 during trading on Friday, reaching $53.83. The company had a trading volume of 1,398,771 shares, compared to its average volume of 2,517,731. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.67 and a current ratio of 1.00. Ball Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $68.12. The firm's fifty day moving average is $56.72 and its 200-day moving average is $53.13. The company has a market cap of $14.65 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.22 and a beta of 1.08.

Ball (NYSE:BALL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Ball had a return on equity of 16.81% and a net margin of 4.49%. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company earned $0.74 earnings per share. Ball's quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that Ball Corporation will post 3.48 EPS for the current year.

Ball Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.80 annualized dividend and a yield of 1.5%. Ball's dividend payout ratio (DPR) is 41.45%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BALL. Mizuho boosted their price objective on shares of Ball from $60.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Barclays decreased their price objective on shares of Ball from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 14th. Truist Financial upped their target price on shares of Ball from $62.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Bank of America restated a "neutral" rating and issued a $66.00 target price (down from $67.00) on shares of Ball in a research note on Wednesday, July 9th. Finally, Loop Capital decreased their target price on shares of Ball from $83.00 to $78.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $65.27.

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.