Markel Group Inc. increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 220,000 shares of the industrial products company’s stock after purchasing an additional 8,000 shares during the period. Markel Group Inc. owned approximately 0.20% of Crown worth $22,055,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCK. State Street Corp boosted its position in shares of Crown by 2.1% in the third quarter. State Street Corp now owns 4,514,736 shares of the industrial products company’s stock valued at $436,078,000 after acquiring an additional 93,045 shares during the period. AQR Capital Management LLC boosted its holdings in Crown by 19.3% in the 4th 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 period. Invesco Ltd. grew its position in Crown by 33.6% in 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 last quarter. Swedbank AB increased its holdings in shares of Crown by 1.9% during 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 period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Crown by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,945,011 shares of the industrial products company’s stock worth $200,286,000 after purchasing an additional 215,898 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.
Crown Price Performance
Shares of NYSE:CCK traded up $1.88 during midday trading on Friday, reaching $111.59. 780,309 shares of the company’s stock were exchanged, compared to its average volume of 1,100,082. 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 company’s 50 day simple moving average is $101.60 and its two-hundred day simple moving average is $104.36. Crown Holdings, Inc. has a 12 month low of $89.21 and a 12 month high of $116.62. The firm has a market capitalization of $12.47 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.84 and a beta of 0.60.
Crown Announces Dividend
The business also recently disclosed 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 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Thursday, May 14th. Crown’s dividend payout ratio is currently 22.29%.
Insider Activity
In related news, CEO Timothy J. Donahue sold 15,000 shares of the firm’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 completion of the transaction, the chief executive officer owned 436,070 shares in the company, valued at $45,787,350. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.90% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Crown from $111.00 to $109.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 14th. Royal Bank Of Canada boosted their price target on Crown from $129.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup upped their price target on Crown from $127.00 to $129.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Crown in a research report on Wednesday. Finally, UBS Group decreased their price objective on Crown from $120.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.29.
Check Out Our Latest Research Report on CCK
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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