Candriam S.C.A. Acquires 150,655 Shares of Crown Holdings, Inc. (NYSE:CCK)

Candriam S.C.A. increased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 56.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 417,937 shares of the industrial products company’s stock after purchasing an additional 150,655 shares during the quarter. Candriam S.C.A. owned approximately 0.35% of Crown worth $31,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Jensen Investment Management Inc. grew its stake in shares of Crown by 2.6% in the second quarter. Jensen Investment Management Inc. now owns 93,638 shares of the industrial products company’s stock worth $6,966,000 after purchasing an additional 2,410 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after buying an additional 209 shares during the period. BW Gestao de Investimentos Ltda. lifted its holdings in Crown by 99.2% in the second quarter. BW Gestao de Investimentos Ltda. now owns 291,801 shares of the industrial products company’s stock worth $21,707,000 after buying an additional 145,286 shares during the period. Rothschild Investment LLC purchased a new stake in Crown in the second quarter worth about $62,000. Finally, Hantz Financial Services Inc. purchased a new stake in Crown in the second quarter worth about $400,000. 90.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on CCK shares. Barclays raised their price objective on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group lowered their price objective on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Truist Financial raised their price objective on shares of Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their target price on shares of Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Loop Capital lifted their target price on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Crown presently has an average rating of “Moderate Buy” and a consensus price target of $101.14.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on 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 owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, 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 transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction 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 transaction, 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 sold a total of 30,000 shares of company stock valued at $2,598,675 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Crown Price Performance

Shares of NYSE CCK opened at $91.36 on Friday. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $93.79. The firm has a market cap of $11.03 billion, a P/E ratio of 26.33, a PEG ratio of 2.14 and a beta of 0.85. The company has a 50 day moving average of $83.69 and a 200 day moving average of $81.03. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. As a group, research analysts expect that Crown Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Thursday, August 15th. Crown’s payout ratio is 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.