Daiwa Securities Group Inc. Boosts Stake in Crown Holdings, Inc. (NYSE:CCK)

Daiwa Securities Group Inc. raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,372 shares of the industrial products company’s stock after acquiring an additional 400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Crown were worth $623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rise Advisors LLC purchased a new position in Crown in the first quarter worth $27,000. Mather Group LLC. acquired a new stake in shares of Crown in the 1st quarter worth $32,000. Quest Partners LLC purchased a new position in Crown during the 4th quarter worth $34,000. Quarry LP increased its position in Crown by 190.3% during the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Crown in the first quarter valued at about $41,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction dated 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 sale, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated 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 owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,000 shares of company stock valued at $2,598,675. 0.90% of the stock is owned by company insiders.

Crown Stock Up 1.2 %

Shares of CCK stock opened at $92.45 on Tuesday. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $93.79. The stock has a market cap of $11.16 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.13 and a beta of 0.85. The stock has a 50 day moving average of $85.86 and a 200 day moving average of $81.67. 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 posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the firm earned $1.68 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Announces Dividend

The firm also recently announced 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 1.08%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CCK shares. Wells Fargo & Company boosted their price target on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Bank of America boosted their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Truist Financial raised their price target on shares of Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Loop Capital boosted their price objective on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley raised their target price on Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.14.

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.