NBC Securities Inc. Reduces Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

NBC Securities Inc. reduced its holdings in Crown Holdings, Inc. (NYSE:CCK) by 24.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,307 shares of the industrial products company’s stock after selling 743 shares during the period. NBC Securities Inc.’s holdings in Crown were worth $182,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CCK. Picton Mahoney Asset Management lifted its stake in shares of Crown by 14.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 145 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Crown by 5.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 154 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Crown by 6.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 160 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Crown by 1.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 13,715 shares of the industrial products company’s stock valued at $1,205,000 after purchasing an additional 180 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Crown by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 48,116 shares of the industrial products company’s stock valued at $4,257,000 after purchasing an additional 180 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CCK. Robert W. Baird upped their price objective on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Truist Financial restated a “hold” rating and set a $88.00 price objective (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. JPMorgan Chase & Co. upped their price objective on shares of Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Wolfe Research began coverage on shares of Crown in a research report on Friday, March 1st. They set an “outperform” rating and a $102.00 price objective for the company. Finally, Morgan Stanley began coverage on shares of Crown in a research report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective for the company. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.29.

Insider Activity

In other news, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the transaction, the director now owns 12,884 shares of the company’s stock, valued at $1,068,470.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Timothy J. Donahue sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the sale, the chief executive officer now owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now directly owns 12,884 shares in the company, valued at approximately $1,068,470.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,000 shares of company stock valued at $3,300,420. 0.90% of the stock is currently owned by company insiders.

Crown Trading Up 0.4 %

Shares of CCK stock opened at $77.54 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. The firm has a market cap of $9.36 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.04 and a beta of 0.88. The company has a 50-day moving average of $81.44 and a two-hundred day moving average of $82.65. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $96.35.

Crown (NYSE:CCK) last announced its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the firm posted $1.20 earnings per share. Crown’s revenue was down 6.4% compared to the same quarter last year. On average, analysts predict that Crown Holdings, Inc. will post 5.95 EPS for the current year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, June 13th. Crown’s payout ratio is 28.82%.

Crown Profile

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.