Mitsubishi UFJ Asset Management Co. Ltd. decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) by 99.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 436 shares of the industrial products company’s stock after selling 102,702 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Crown were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the business. ORG Partners LLC raised its holdings in Crown by 52.5% during the fourth quarter. ORG Partners LLC now owns 305 shares of the industrial products company’s stock worth $31,000 after buying an additional 105 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Crown by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock worth $32,000 after buying an additional 111 shares during the last quarter. Siemens Fonds Invest GmbH lifted its position in Crown by 7.7% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,626 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 116 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in Crown by 2.0% in the 4th quarter. Verdence Capital Advisors LLC now owns 6,388 shares of the industrial products company’s stock valued at $658,000 after acquiring an additional 126 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in Crown by 1.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 12,618 shares of the industrial products company’s stock valued at $1,299,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.
Crown Trading Down 1.2%
NYSE:CCK opened at $99.02 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.70 and a current ratio of 1.12. The firm has a market cap of $11.07 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.65. Crown Holdings, Inc. has a 52 week low of $89.21 and a 52 week high of $116.62. The firm has a 50-day moving average price of $102.99 and a two-hundred day moving average price of $103.21.
Crown Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 14th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, May 14th. Crown’s dividend payout ratio (DPR) is 22.29%.
Insiders Place Their Bets
In related news, COO Djalma Novaes, Jr. sold 29,734 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $114.80, for a total value of $3,413,463.20. Following the transaction, the chief operating officer directly owned 88,052 shares of the company’s stock, valued at approximately $10,108,369.60. The trade was a 25.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $106.85, for a total transaction of $801,375.00. Following the completion of the transaction, the chief executive officer directly owned 451,070 shares in the company, valued at $48,196,829.50. This trade represents a 1.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,234 shares of company stock worth $5,832,363 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
CCK has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Crown in a research report on Monday, February 23rd. Bank of America cut their target price on Crown from $131.00 to $126.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Royal Bank Of Canada cut their target price on Crown from $140.00 to $129.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. DA Davidson cut their target price on Crown from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Truist Financial cut their target price on Crown from $135.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.
View Our Latest Report on Crown
Crown Company Profile
Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.
Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.
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