AE Wealth Management LLC Sells 6,983 Shares of Crown Holdings, Inc. (NYSE:CCK)

AE Wealth Management LLC reduced its position in Crown Holdings, Inc. (NYSE:CCK) by 32.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,726 shares of the industrial products company’s stock after selling 6,983 shares during the period. AE Wealth Management LLC’s holdings in Crown were worth $1,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its stake in Crown by 12.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,930 shares of the industrial products company’s stock valued at $962,000 after acquiring an additional 1,433 shares during the period. Mutual of America Capital Management LLC grew its holdings in Crown by 3.6% during the 2nd quarter. Mutual of America Capital Management LLC now owns 159,295 shares of the industrial products company’s stock valued at $11,850,000 after buying an additional 5,556 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Crown by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock valued at $109,504,000 after buying an additional 79,502 shares in the last quarter. American Century Companies Inc. grew its holdings in Crown by 99.2% during the 2nd quarter. American Century Companies Inc. now owns 102,828 shares of the industrial products company’s stock valued at $7,649,000 after buying an additional 51,199 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Crown by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,372 shares of the industrial products company’s stock valued at $623,000 after buying an additional 400 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Crown news, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares in the company, valued at $1,187,734.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Crown news, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares in the company, valued at $1,187,734.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at $52,416,653.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,006 shares of company stock worth $2,694,849. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Loop Capital lifted their target price on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. UBS Group reduced their target price on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company boosted their price objective on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Truist Financial boosted their price objective on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $101.14.

Crown Price Performance

Shares of Crown stock opened at $95.72 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The company has a market cap of $11.56 billion, a PE ratio of 27.59, a P/E/G ratio of 2.13 and a beta of 0.85. The business has a 50 day moving average of $88.19 and a 200 day moving average of $82.42. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $96.36.

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

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued 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 1.04%. Crown’s dividend payout ratio (DPR) is 28.82%.

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.