By otakuyassine3@gmail.com 
Retirement Systems of Alabama trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,794 shares of the industrial products company’s stock after selling 2,467 shares during the quarter. Retirement Systems of Alabama’s holdings in Crown were worth $13,883,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd increased its position in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Crown in the third quarter worth approximately $44,000. Blue Trust Inc. grew its position in Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 385 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Crown in the third quarter worth approximately $48,000. 90.93% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have commented on the stock. Royal Bank of Canada boosted their target price on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Loop Capital lifted their price objective on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Robert W. Baird lifted their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Barclays lifted their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $106.62.
Check Out Our Latest Analysis on CCK
Insiders Place Their Bets
In other news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the transaction, the chief executive officer now directly owns 571,178 shares in the company, valued at $53,119,554. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,006 shares of company stock worth $2,478,049 over the last three months. Insiders own 0.90% of the company’s stock.
Crown Trading Down 0.2 %
Crown stock opened at $87.88 on Monday. The firm has a 50-day moving average of $92.45 and a 200-day moving average of $87.51. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 108.49, a P/E/G ratio of 1.95 and a beta of 0.83.
Crown (NYSE:CCK – Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. On average, equities analysts expect that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.
Crown Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.14%. Crown’s dividend payout ratio (DPR) is presently 123.46%.
About Crown
Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.
Recommended Stories
Want to see what other hedge funds are holding CCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Holdings, Inc. (NYSE:CCK – Free Report).
Receive News & Ratings for Crown Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Crown and related companies with MarketBeat.com’s FREE daily email newsletter.