Amalgamated Bank Decreases Position in Crown Holdings, Inc. (NYSE:CCK)

Amalgamated Bank trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,384 shares of the industrial products company’s stock after selling 4,675 shares during the quarter. Amalgamated Bank owned 0.06% of Crown worth $5,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CCK. Vanguard Group Inc. grew its stake in shares of Crown by 1.5% during the first quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock worth $951,306,000 after acquiring an additional 176,639 shares during the last quarter. William Blair Investment Management LLC increased its stake in Crown by 2.0% during the 1st quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock valued at $224,020,000 after purchasing an additional 56,604 shares in the last quarter. Clearbridge Investments LLC increased its stake in Crown by 28.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,566,163 shares of the industrial products company’s stock valued at $124,134,000 after purchasing an additional 351,545 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Crown in the first quarter worth $119,167,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Crown by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock worth $109,504,000 after buying an additional 79,502 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Down 0.8 %

Shares of CCK opened at $93.70 on Friday. The firm has a market cap of $11.31 billion, a P/E ratio of 27.00, a PEG ratio of 2.13 and a beta of 0.85. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $94.46. The stock’s 50 day moving average is $87.43 and its two-hundred day moving average is $82.08. 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 issued its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping 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 company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm earned $1.68 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. Analysts predict that Crown Holdings, Inc. will post 6.15 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s payout ratio is 28.82%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CCK. UBS Group reduced their target price on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Bank of America increased their price target on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Barclays increased their price objective on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.14.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crown 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 owns 593,678 shares in the company, valued at approximately $50,480,440.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, 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. In the last three months, insiders sold 30,000 shares of company stock worth $2,598,675. Corporate insiders own 0.90% of the company’s stock.

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.