Edgestream Partners L.P. Sells 24,878 Shares of Crown Holdings, Inc. (NYSE:CCK)

Edgestream Partners L.P. lowered its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 35.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,180 shares of the industrial products company’s stock after selling 24,878 shares during the quarter. Edgestream Partners L.P.’s holdings in Crown were worth $3,435,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Mutual of America Capital Management LLC grew its position in shares of Crown by 10.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock valued at $12,185,000 after acquiring an additional 14,362 shares during the period. Vanguard Group Inc. increased its position in Crown by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock worth $1,089,029,000 after buying an additional 173,460 shares during the last quarter. Grand Jean Capital Management Inc. raised its stake in Crown by 28.8% in the fourth quarter. Grand Jean Capital Management Inc. now owns 140,384 shares of the industrial products company’s stock valued at $12,928,000 after buying an additional 31,401 shares during the period. Empowered Funds LLC acquired a new stake in shares of Crown in the first quarter valued at approximately $6,854,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Crown by 21.0% during the 1st quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock worth $27,045,000 after acquiring an additional 59,267 shares during the period. 90.93% of the stock is owned by institutional investors.

Insider Transactions at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares in the company, valued at $52,416,653.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,000 shares of company stock valued at $2,598,675. Corporate insiders own 0.90% of the company’s stock.

Crown Stock Up 1.0 %

Shares of NYSE CCK opened at $93.12 on Thursday. The stock has a market capitalization of $11.24 billion, a P/E ratio of 26.84, a PEG ratio of 2.13 and a beta of 0.85. The stock’s fifty day moving average is $86.68 and its 200 day moving average is $81.87. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $93.79. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05.

Crown (NYSE:CCK) last issued its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 EPS. Sell-side analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. Crown’s payout ratio is 28.82%.

Analysts Set New Price Targets

CCK has been the subject of several research reports. StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Wells Fargo & Company raised their target price on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. UBS Group decreased their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Loop Capital boosted their price objective on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Truist Financial increased their target price on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.14.

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.