OLD National Bancorp IN lifted its holdings in Crown Holdings, Inc. (NYSE:CCK – Free Report) by 21.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 108,895 shares of the industrial products company’s stock after purchasing an additional 19,346 shares during the period. OLD National Bancorp IN’s holdings in Crown were worth $10,917,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of CCK. State Street Corp raised its stake in Crown by 2.1% during the third quarter. State Street Corp now owns 4,514,736 shares of the industrial products company’s stock worth $436,078,000 after acquiring an additional 93,045 shares during the period. AQR Capital Management LLC grew its holdings in shares of Crown by 19.3% during the fourth quarter. AQR Capital Management LLC now owns 4,137,962 shares of the industrial products company’s stock valued at $426,086,000 after purchasing an additional 670,412 shares during the last quarter. Invesco Ltd. raised its position in shares of Crown by 33.6% during the 4th quarter. Invesco Ltd. now owns 3,526,983 shares of the industrial products company’s stock worth $363,173,000 after purchasing an additional 886,471 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Crown by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,979,842 shares of the industrial products company’s stock worth $287,823,000 after purchasing an additional 149,700 shares during the last quarter. Finally, Swedbank AB lifted its holdings in shares of Crown by 1.9% in the 4th quarter. Swedbank AB now owns 2,541,183 shares of the industrial products company’s stock worth $261,666,000 after purchasing an additional 47,613 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.
Crown Stock Up 0.8%
Shares of Crown stock opened at $109.82 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.12 and a quick ratio of 0.70. Crown Holdings, Inc. has a 1-year low of $89.21 and a 1-year high of $116.62. The business’s fifty day moving average price is $99.67 and its two-hundred day moving average price is $103.42. The company has a market capitalization of $12.27 billion, a P/E ratio of 17.49, a PEG ratio of 1.80 and a beta of 0.63.
Crown Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Thursday, May 14th. Crown’s dividend payout ratio is currently 22.29%.
Wall Street Analysts Forecast Growth
CCK has been the subject of a number of recent research reports. Royal Bank Of Canada lowered their price objective on Crown from $140.00 to $129.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft started coverage on Crown in a research note on Wednesday, April 1st. They issued a “buy” rating and a $124.00 target price on the stock. DA Davidson lowered their price target on shares of Crown from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. UBS Group dropped their price objective on shares of Crown from $120.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $120.14.
Read Our Latest Stock Analysis on Crown
Insider Activity
In related news, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $105.00, for a total transaction of $1,575,000.00. Following the sale, the chief executive officer owned 436,070 shares of the company’s stock, valued at $45,787,350. The trade was a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,000 shares of company stock valued at $3,163,875 in the last ninety days. Company insiders own 0.90% of the company’s stock.
Crown 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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