2,734 Shares in Crown Holdings, Inc. (NYSE:CCK) Bought by Acadian Asset Management LLC

Acadian Asset Management LLC purchased a new stake in Crown Holdings, Inc. (NYSE:CCK) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,734 shares of the industrial products company’s stock, valued at approximately $203,000.

A number of other hedge funds have also added to or reduced their stakes in CCK. Private Advisor Group LLC purchased a new position in shares of Crown during the 4th quarter worth approximately $255,000. Envestnet Portfolio Solutions Inc. grew its stake in Crown by 6.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 160 shares during the period. Janney Montgomery Scott LLC grew its stake in Crown by 5.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,294 shares of the industrial products company’s stock worth $856,000 after purchasing an additional 503 shares during the period. Norges Bank bought a new position in Crown in the fourth quarter worth $109,826,000. Finally, PNC Financial Services Group Inc. lifted its position in Crown by 3.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 33,344 shares of the industrial products company’s stock valued at $3,071,000 after buying an additional 1,052 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the sale, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,000 shares of company stock worth $2,598,675. Insiders own 0.90% of the company’s stock.

Crown Trading Down 0.8 %

Crown stock opened at $93.70 on Friday. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $94.46. The business’s fifty day moving average is $87.43 and its 200 day moving average is $82.08. The stock has a market capitalization of $11.31 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73.

Crown (NYSE:CCK) last announced its quarterly earnings results 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. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the firm posted $1.68 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CCK shares. Wells Fargo & Company upped their target price on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Truist Financial raised their target price on shares of Crown from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley boosted their price target on Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Barclays upped their price target on Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Bank of America lifted their price objective on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Four 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, the company has an average rating of “Moderate Buy” and an average 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.