Democrats and Corporate Insiders are Buying These 5 Stocks

2. Ball Corp (NYSE:BALL)

Unusual Whales Democratic ETF (NANC) Stake: $282,467.55

Ball Corp (NYSE:BALL) ranks second in our list of the stocks corporate insiders are Democrats are buying. On March 14, 2024, Ball Corp’s (NYSE:BALL) CEO Daniel William Fisher piled into 3,869 shares of Ball Corp (NYSE:BALL) at $64.56 per share. Since then the stock is up 0.43%. The Unusual Whales Democratic ETF owns 4,349.00 shares of Ball Corp (NYSE:BALL).

As of the end of the fourth quarter of 2023, 28 hedge funds of the 933 funds tracked by Insider Monkey reported having stakes in Ball Corp (NYSE:BALL).

Broyhill Asset Management stated the following regarding Ball Corporation (NYSE:BALL) in its fourth quarter 2023 investor letter:

“Recent investments in this bucket include Ball Corporation (NYSE:BALL) Fidelity National Information Services, and Avantor. Founded in 1880, Ball Corporation makes aluminum packaging for drinks, food, and other products. While arguably not the most exciting business in the world, a glimpse at the company’s performance provides a valuable lesson: exciting business models are not a prerequisite for exciting performance. In fact, more often than not, we’d argue that those factors are inversely correlated. In the decade ending in 2020, Ball stock compounded at 20% annually, nearly 6% better than the market per year. Since then, performance has faltered, falling almost 60% from peak to trough, as the industry struggled with over-expansion, aggressive pricing, and other challenges. As interest rates soared, investors became increasingly focused on the leverage on Ball’s balance sheet, which had spiked as high as 7.6x following the acquisition of UK’s Rexam in 2016. The stock’s multiple collapsed from highs near 30x in FY20-FY21 to lows below 15x last year, prompting management to go on the offensive. In August, Ball announced the sale of its aerospace division to BAE Systems for 19.6x EBITDA and its intent to pay down debt to ~3x or the low end of its target range, along with ~$2 billion of share repurchases.”