Worldquant Millennium Advisors LLC Buys 229,705 Shares of Crown Holdings, Inc. (NYSE:CCK)

Worldquant Millennium Advisors LLC grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 216.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 335,902 shares of the industrial products company’s stock after purchasing an additional 229,705 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Crown were worth $27,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sone Capital Management LLC bought a new stake in shares of Crown during the fourth quarter valued at approximately $5,444,000. Twinbeech Capital LP raised its position in shares of Crown by 345.4% during the fourth quarter. Twinbeech Capital LP now owns 107,535 shares of the industrial products company’s stock valued at $8,892,000 after buying an additional 83,394 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Crown by 37.0% during the fourth quarter. Two Sigma Advisers LP now owns 61,100 shares of the industrial products company’s stock valued at $5,052,000 after buying an additional 16,500 shares during the last quarter. Tidal Investments LLC raised its position in shares of Crown by 157.7% during the fourth quarter. Tidal Investments LLC now owns 56,696 shares of the industrial products company’s stock valued at $4,688,000 after buying an additional 34,699 shares during the last quarter. Finally, State of Wyoming increased its position in Crown by 160.1% in the fourth quarter. State of Wyoming now owns 1,995 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 1,228 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Trading Down 1.1%

CCK stock opened at $99.03 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $100.24. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The firm’s fifty day simple moving average is $90.22 and its two-hundred day simple moving average is $88.55.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.45. Crown had a net margin of 3.59% and a return on equity of 25.12%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the business posted $1.02 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Thursday, May 15th. Crown’s dividend payout ratio (DPR) is 22.37%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Wells Fargo & Company boosted their price target on shares of Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Royal Bank of Canada boosted their price target on shares of Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. UBS Group boosted their price target on shares of Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Barclays boosted their price target on shares of Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.45.

Insider Buying and Selling at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president now directly owns 4,500 shares in the company, valued at approximately $447,345. This represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 7,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the transaction, the chief operating officer now owns 135,014 shares in the company, valued at approximately $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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.