Pallas Capital Advisors LLC Buys 2,890 Shares of Crown Holdings, Inc. (NYSE:CCK)

Pallas Capital Advisors LLC raised its stake in Crown Holdings, Inc. (NYSE:CCK) by 64.3% in the first quarter, Holdings Channel.com reports. The firm owned 7,387 shares of the industrial products company’s stock after acquiring an additional 2,890 shares during the period. Pallas Capital Advisors LLC’s holdings in Crown were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CCK. Farther Finance Advisors LLC boosted its holdings in Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 256 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 117 shares during the period. Colonial Trust Co SC lifted its holdings in shares of Crown by 88.0% during the 4th quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 352 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 269 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Crown by 325.1% during the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 647 shares during the period. 90.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the sale, the vice president now owns 4,500 shares in the company, valued at $447,345. The trade was a 32.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction that occurred 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 owns 135,014 shares of the company’s stock, valued at approximately $13,096,358. This represents a 4.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Crown Trading Up 0.5%

Shares of CCK stock opened at $100.52 on Thursday. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $102.00. The company has a market capitalization of $11.70 billion, a P/E ratio of 28.23, a P/E/G ratio of 1.56 and a beta of 0.76. The firm has a 50-day moving average price of $93.27 and a 200 day moving average price of $89.28. 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 (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 the consensus estimate of $1.22 by $0.45. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. Research analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, May 15th. Crown’s payout ratio is presently 22.37%.

Analyst Ratings Changes

CCK has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Royal Bank of Canada raised their price objective on shares of Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Truist Financial reduced their price objective on shares of Crown from $107.00 to $97.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Barclays raised their price objective on shares of Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Finally, Mizuho raised their price objective on shares of Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.45.

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.