Clearbridge Investments LLC Purchases 111,589 Shares of Crown Holdings, Inc. (NYSE:CCK)

Clearbridge Investments LLC lifted its position in Crown Holdings, Inc. (NYSE:CCK) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,677,752 shares of the industrial products company’s stock after buying an additional 111,589 shares during the period. Clearbridge Investments LLC owned about 1.39% of Crown worth $124,808,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mutual of America Capital Management LLC increased its holdings in shares of Crown by 10.3% in the first quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock worth $12,185,000 after acquiring an additional 14,362 shares in the last quarter. Vanguard Group Inc. increased its stake in Crown by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock worth $1,089,029,000 after purchasing an additional 173,460 shares in the last quarter. Grand Jean Capital Management Inc. raised its holdings in Crown by 28.8% during the 4th quarter. Grand Jean Capital Management Inc. now owns 140,384 shares of the industrial products company’s stock worth $12,928,000 after buying an additional 31,401 shares during the period. Empowered Funds LLC bought a new position in Crown in the first quarter valued at approximately $6,854,000. Finally, Russell Investments Group Ltd. increased its position in shares of Crown by 21.0% during the first 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 in the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Transactions at Crown

In related news, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now owns 12,424 shares in the company, valued at approximately $1,187,734.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were 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 directly owns 12,424 shares in the company, valued at $1,187,734.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,006 shares of company stock worth $2,694,849. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

CCK has been the topic of several research reports. Barclays boosted their price objective on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Truist Financial boosted their price target on Crown from $88.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased 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. UBS Group dropped their target price on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Bank of America upped their price target on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $101.14.

Crown Trading Down 0.2 %

Shares of NYSE:CCK opened at $95.72 on Wednesday. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $96.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The company has a market capitalization of $11.56 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.26 and a beta of 0.85. The company has a 50-day simple moving average of $89.58 and a 200 day simple moving average of $82.91.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (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 analysts’ expectations of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm posted $1.68 earnings per share. Sell-side analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Thursday, August 15th. Crown’s payout ratio is presently 28.82%.

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.