Ameritas Investment Partners Inc. Sells 1,019 Shares of Crown Holdings, Inc. (NYSE:CCK)

Ameritas Investment Partners Inc. trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,377 shares of the industrial products company’s stock after selling 1,019 shares during the period. Ameritas Investment Partners Inc.’s holdings in Crown were worth $1,888,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in shares of Crown by 6.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after buying an additional 158 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Crown by 6.9% in the fourth 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 in the last quarter. Fifth Third Bancorp raised its holdings in Crown by 36.1% in the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 176 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Crown by 3.7% during the first quarter. Verdence Capital Advisors LLC now owns 5,348 shares of the industrial products company’s stock worth $424,000 after purchasing an additional 193 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Crown by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after buying an additional 209 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Trading Down 0.8 %

Shares of NYSE:CCK opened at $93.70 on Monday. The company’s 50-day moving average price is $87.43 and its two-hundred day moving average price is $82.17. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $94.46. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The stock has a market capitalization of $11.31 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85.

Crown (NYSE:CCK) last released its quarterly earnings data 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. Crown had a return on equity of 23.96% and a net margin of 3.68%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts forecast that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

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

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Timothy J. Donahue sold 15,000 shares of the firm’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 transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’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 directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock valued at $2,598,675 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCK. Morgan Stanley raised their price objective on Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Truist Financial lifted their price objective on Crown from $88.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Bank of America increased their target price on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays lifted their price target on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company increased their price objective on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.14.

Crown Company 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.