Gateway Investment Advisers LLC Grows Position in Crown Holdings, Inc. (NYSE:CCK)

Gateway Investment Advisers LLC grew its stake in Crown Holdings, Inc. (NYSE:CCK) by 52.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 52,563 shares of the industrial products company’s stock after buying an additional 18,042 shares during the period. Gateway Investment Advisers LLC’s holdings in Crown were worth $4,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CCK. Farther Finance Advisors LLC raised its stake in Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 117 shares during the last quarter. Colonial Trust Co SC raised its stake in shares of Crown by 88.0% in the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 352 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Crown by 33.8% during the first quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 205 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in Crown by 48.6% in the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after buying an additional 269 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CCK. UBS Group raised 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. Mizuho boosted their target price on shares of Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Truist Financial lowered their price target on shares of Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded Crown from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Barclays upped their target price on Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.45.

Insider Buying and Selling

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

Crown Stock Up 2.4%

Crown stock opened at $99.99 on Friday. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $100.24. The stock has a market capitalization of $11.64 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The business has a 50 day simple moving average of $92.49 and a 200-day simple moving average of $89.09.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.22 by $0.45. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 EPS. On average, analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, May 15th. Crown’s dividend payout ratio is presently 22.37%.

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.