Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its stake in Crown Holdings, Inc. (NYSE:CCK) by 35.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,122 shares of the industrial products company’s stock after selling 20,119 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Crown were worth $2,762,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CCK. Rise Advisors LLC purchased a new stake in Crown during the 1st quarter worth $27,000. Mather Group LLC. bought a new stake in shares of Crown in the first quarter worth $32,000. Quest Partners LLC acquired a new position in Crown during the 4th quarter worth $34,000. Quarry LP increased its position in shares of Crown by 190.3% in the 4th 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 last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Crown in the 1st quarter valued at about $41,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CCK. Royal Bank of Canada boosted their price objective on Crown from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, July 26th. UBS Group dropped their price target on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Bank of America lifted their price objective on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Loop Capital increased their target price on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Crown has an average rating of “Moderate Buy” and a consensus target price of $101.14.

Crown Stock Performance

Shares of NYSE CCK opened at $93.70 on Monday. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $94.46. The company has a market cap of $11.31 billion, a PE ratio of 27.00, a P/E/G ratio of 2.13 and a beta of 0.85. The stock has a 50 day simple moving average of $87.43 and a 200-day simple moving average of $82.17. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last announced its quarterly earnings results 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 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 analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Dividend Announcement

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

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of 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 document filed with the SEC, which is available at this hyperlink. In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now directly owns 578,678 shares in the company, valued at approximately $52,416,653.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now 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 90 days, insiders have sold 30,000 shares of company stock valued at $2,598,675. Company insiders own 0.90% of the company’s stock.

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.