Quantinno Capital Management LP Buys 10,597 Shares of Crown Holdings, Inc. (NYSE:CCK)

Quantinno Capital Management LP raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 39.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,596 shares of the industrial products company’s stock after acquiring an additional 10,597 shares during the quarter. Quantinno Capital Management LP’s holdings in Crown were worth $3,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCK. Pacer Advisors Inc. grew its position in shares of Crown by 10,138.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after purchasing an additional 3,074,791 shares during the last quarter. Norges Bank acquired a new stake in shares of Crown in the fourth quarter valued at about $113,568,000. Metropolis Capital Ltd grew its position in shares of Crown by 68.7% in the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after purchasing an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Crown in the fourth quarter valued at about $66,732,000. Finally, Vulcan Value Partners LLC grew its position in shares of Crown by 450.5% in the fourth quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company’s stock valued at $68,027,000 after purchasing an additional 674,072 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the transaction, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at $13,096,358. The trade was a 4.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the transaction, the vice president now directly owns 4,500 shares in the company, valued at $447,345. The trade was a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Crown Trading Up 0.7%

CCK stock opened at $100.13 on Tuesday. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $101.50. The firm has a market cap of $11.65 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.56 and a beta of 0.76. The business’s 50 day moving average is $89.98 and its 200-day moving average is $88.48. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK) last announced its earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.22 by $0.45. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. Crown’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 EPS. Equities analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, May 15th. Crown’s payout ratio is currently 22.37%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CCK. Wells Fargo & Company lifted their target price on Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Royal Bank of Canada lifted their target price on Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Mizuho lifted their target price on Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Truist Financial decreased their target price on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Finally, Barclays lifted their target price on Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and a consensus target price of $110.45.

Crown Company Profile

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.