Federated Hermes Inc. Has $961,000 Position in Crown Holdings, Inc. (NYSE:CCK)

Federated Hermes Inc. decreased its stake in Crown Holdings, Inc. (NYSE:CCK) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,920 shares of the industrial products company’s stock after selling 736 shares during the period. Federated Hermes Inc.’s holdings in Crown were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in Crown in the first quarter valued at $27,000. Quest Partners LLC acquired a new position in shares of Crown in the 4th quarter valued at about $34,000. Mather Group LLC. bought a new stake in shares of Crown during the 1st quarter valued at about $32,000. Quarry LP grew its stake in Crown by 190.3% during the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 276 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in Crown in the first quarter worth approximately $41,000. 90.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CCK shares. Barclays raised their price objective on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report 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 for the company in a research note on Wednesday, July 17th. Loop Capital increased their price objective on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Citigroup boosted their target price on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.14.

Crown Stock Performance

NYSE CCK opened at $93.70 on Friday. The company has a fifty day moving average price of $87.43 and a 200-day moving average price of $82.13. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.13 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $94.46.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the firm posted $1.68 EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

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

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares in the company, valued at approximately $50,323,381.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the sale, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction dated 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 owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock worth $2,598,675 in the last quarter. 0.90% of the stock is currently owned by company insiders.

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.