Crown Holdings, Inc. (NYSE:CCK) Shares Bought by Quarry LP

Quarry LP raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 339.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,700 shares of the industrial products company’s stock after purchasing an additional 2,085 shares during the quarter. Quarry LP’s holdings in Crown were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCK. Rise Advisors LLC acquired a new position in shares of Crown in the 1st quarter valued at $27,000. Mather Group LLC. acquired a new position in shares of Crown in the first quarter valued at about $32,000. EntryPoint Capital LLC purchased a new position in shares of Crown in the first quarter worth about $41,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of Crown in the first quarter worth about $43,000. Finally, Blue Trust Inc. lifted its holdings in shares of Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 385 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Insider Transactions at Crown

In related news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Crown news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,006 shares of company stock worth $2,694,849. 0.90% of the stock is currently owned by company insiders.

Crown Trading Up 1.2 %

CCK opened at $95.88 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The company’s 50 day simple moving average is $89.21 and its two-hundred day simple moving average is $82.78. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 2.26 and a beta of 0.85. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $96.74.

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

Crown Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. Crown’s dividend payout ratio is currently 28.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. 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 report on Wednesday, July 24th. UBS Group reduced their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. StockNews.com lowered shares of Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price objective on shares of Crown in a research note on Tuesday, September 24th. Finally, Morgan Stanley boosted their price objective on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and an average target price of $101.14.

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.