HighTower Advisors LLC Acquires 1,609 Shares of Crown Holdings, Inc. (NYSE:CCK)

HighTower Advisors LLC grew its holdings in Crown Holdings, Inc. (NYSE:CCK) by 18.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,432 shares of the industrial products company’s stock after purchasing an additional 1,609 shares during the period. HighTower Advisors LLC’s holdings in Crown were worth $1,007,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CCK. Wealth Enhancement Advisory Services LLC raised its position in Crown by 15.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,156 shares of the industrial products company’s stock worth $532,000 after buying an additional 931 shares during the last quarter. Blue Trust Inc. lifted its position in Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 385 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 158 shares during the last quarter. Fifth Third Bancorp grew its position in Crown by 36.1% in the 2nd 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. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Crown during the 2nd quarter valued at $269,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,006 shares of company stock valued at $2,478,049. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

CCK has been the topic of a number of research reports. Morgan Stanley raised their price target on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company boosted their price target on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Truist Financial increased their price objective on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Citigroup boosted their target price on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Mizuho set a $110.00 price target on shares of Crown in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Trading Down 1.4 %

Shares of CCK stock opened at $85.33 on Wednesday. The stock has a fifty day simple moving average of $92.34 and a two-hundred day simple moving average of $87.53. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46. The firm has a market capitalization of $10.21 billion, a PE ratio of 105.48, a PEG ratio of 1.95 and a beta of 0.83. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

Crown (NYSE:CCK) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Crown’s dividend payout ratio is 123.46%.

Crown 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.