Insider Selling: Crown Holdings, Inc. (NYSE:CCK) Director Sells 1,006 Shares of Stock

Crown Holdings, Inc. (NYSE:CCK) Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares in the company, valued at $1,187,734.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Crown Price Performance

Shares of CCK traded up $0.24 during mid-day trading on Tuesday, hitting $95.72. The company’s stock had a trading volume of 919,730 shares, compared to its average volume of 1,131,300. The firm has a 50-day moving average price of $87.82 and a 200 day moving average price of $82.30. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 27.53, a PEG 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 Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $96.36.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS. On average, research analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced 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 dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s payout ratio is 28.82%.

Analyst Ratings Changes

A number of research firms recently weighed in on CCK. Wells Fargo & Company increased their price objective on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Loop Capital increased their price objective on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com cut shares of Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. UBS Group dropped their price objective on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Morgan Stanley increased their price objective on shares of Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $101.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sessa Capital IM L.P. boosted its holdings in shares of Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after purchasing an additional 1,989,374 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of Crown during the first quarter worth approximately $119,167,000. AQR Capital Management LLC boosted its holdings in shares of Crown by 121.7% during the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock worth $54,787,000 after purchasing an additional 404,250 shares during the period. Metropolis Capital Ltd acquired a new stake in Crown in the second quarter valued at approximately $29,291,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Crown in the first quarter valued at approximately $29,981,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Company 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.