American Century Companies Inc. Buys 51,199 Shares of Crown Holdings, Inc. (NYSE:CCK)

American Century Companies Inc. grew its stake in Crown Holdings, Inc. (NYSE:CCK) by 99.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,828 shares of the industrial products company’s stock after purchasing an additional 51,199 shares during the period. American Century Companies Inc. owned approximately 0.09% of Crown worth $7,649,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its position in Crown by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 160 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Crown by 5.7% in the 4th 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. UBS Group AG lifted its stake in Crown by 21.7% in the fourth quarter. UBS Group AG now owns 225,864 shares of the industrial products company’s stock worth $20,800,000 after purchasing an additional 40,318 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Crown by 14.4% during the fourth quarter. Wells Fargo & Company MN now owns 165,255 shares of the industrial products company’s stock valued at $15,218,000 after buying an additional 20,830 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Crown during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,000 shares of company stock valued at $2,598,675. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CCK. Wells Fargo & Company boosted their price objective on Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Citigroup boosted their target price on shares of Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. 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 research note on Wednesday, July 24th. StockNews.com cut shares of Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Bank of America upped their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.14.

Crown Trading Up 1.9 %

Shares of NYSE:CCK opened at $95.52 on Tuesday. The company has a market capitalization of $11.53 billion, a PE ratio of 27.53, a P/E/G ratio of 2.13 and a beta of 0.85. 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 Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $95.72. The business’s fifty day simple moving average is $87.82 and its 200-day simple moving average is $82.30.

Crown (NYSE:CCK) last announced 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 period in the previous year, the company posted $1.68 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. As a group, equities research 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 declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s dividend payout ratio is currently 28.82%.

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.