Marshall Wace LLP Lowers Holdings in Crown Holdings, Inc. (NYSE:CCK)

Marshall Wace LLP lowered its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 54.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,211 shares of the industrial products company’s stock after selling 6,155 shares during the quarter. Marshall Wace LLP’s holdings in Crown were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCK. Vanguard Group Inc. grew its holdings in Crown by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock valued at $951,306,000 after buying an additional 176,639 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Crown by 2.0% in the first quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock worth $224,020,000 after buying an additional 56,604 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Crown by 31.5% during the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock valued at $147,032,000 after buying an additional 473,000 shares during the last quarter. Clearbridge Investments LLC grew its holdings 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 buying an additional 351,545 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Crown by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock worth $109,504,000 after acquiring an additional 79,502 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group cut 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. Wells Fargo & Company lifted their price target on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Citigroup upped their price objective on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Bank of America lifted their target price on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley raised 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. Four 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 presently has an average rating of “Moderate Buy” and an average target price of $101.86.

Crown Stock Down 1.1 %

Shares of NYSE:CCK opened at $91.60 on Friday. The business’s 50 day moving average is $90.67 and its 200 day moving average is $83.70. The stock has a market cap of $11.06 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $96.74. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

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, beating the consensus estimate of $1.59 by $0.22. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. Sell-side analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current 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 1.09%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio is currently 28.82%.

Insider Transactions 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 completion of the sale, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s 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 sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now owns 593,678 shares in the company, valued at approximately $50,480,440.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,506 shares of company stock valued at $3,392,349. Corporate insiders own 0.90% of the company’s stock.

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.