World Investment Advisors acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,628 shares of the industrial products company’s stock, valued at approximately $1,188,000.
Several other institutional investors have also modified their holdings of CCK. JPMorgan Chase & Co. lifted its holdings in shares of Crown by 226.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,474,038 shares of the industrial products company’s stock valued at $142,377,000 after purchasing an additional 1,022,789 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Crown by 36.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,467,550 shares of the industrial products company’s stock valued at $333,197,000 after purchasing an additional 933,938 shares in the last quarter. Scopus Asset Management L.P. bought a new position in shares of Crown during the 2nd quarter valued at about $47,214,000. Handelsbanken Fonder AB lifted its holdings in shares of Crown by 242.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 543,900 shares of the industrial products company’s stock valued at $52,535,000 after purchasing an additional 384,900 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Crown by 84.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,374 shares of the industrial products company’s stock valued at $80,689,000 after purchasing an additional 381,766 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.
Crown Stock Up 0.1%
NYSE:CCK opened at $96.16 on Monday. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.58 and a beta of 0.65. Crown Holdings, Inc. has a twelve month low of $89.21 and a twelve month high of $116.62. The stock’s 50 day moving average price is $102.69 and its two-hundred day moving average price is $103.19. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 1.67.
Crown Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. Crown’s payout ratio is 22.29%.
Analyst Ratings Changes
Several research firms have recently weighed in on CCK. Morgan Stanley reiterated an “overweight” rating on shares of Crown in a report on Friday, February 6th. 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 note on Monday, April 6th. 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 note on Wednesday, May 13th. Wolfe Research set a $115.00 target price on Crown in a research note on Friday, February 6th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Crown in a research note on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.
Get Our Latest Stock Report on CCK
Insider Activity at Crown
In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $106.85, for a total transaction of $801,375.00. Following the transaction, the chief executive officer owned 451,070 shares of the company’s stock, valued at $48,196,829.50. The trade was a 1.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Djalma Novaes, Jr. sold 29,734 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was 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 in the company, valued at $10,108,369.60. The trade was a 25.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,234 shares of company stock worth $5,832,363 in the last ninety days. Insiders own 0.90% of the company’s stock.
About Crown
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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