Fulton Bank N.A. Purchases Shares of 2,440 Crown Holdings, Inc. (NYSE:CCK)

Fulton Bank N.A. purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,440 shares of the industrial products company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC raised its position in shares of Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 117 shares in the last quarter. Colonial Trust Co SC raised its position in shares of Crown by 88.0% in the 4th quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 352 shares in the last quarter. Parallel Advisors LLC increased its position in Crown by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company’s stock valued at $72,000 after buying an additional 205 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Crown by 48.6% during the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after buying an additional 269 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Buying and Selling at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were 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 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CCK. Barclays lifted their price objective on Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Royal Bank of Canada lifted their price objective on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Wall Street Zen upgraded Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Truist Financial lowered their price objective on Crown from $107.00 to $97.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Finally, Mizuho lifted their price objective on Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.45.

Crown Stock Performance

Shares of CCK opened at $97.68 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $100.24. The firm has a market capitalization of $11.37 billion, a P/E ratio of 27.44, a PEG ratio of 1.56 and a beta of 0.76. The business has a fifty day moving average of $92.30 and a 200 day moving average of $89.02.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.45. Crown had a return on equity of 25.12% and a net margin of 3.59%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. Crown’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, May 15th. Crown’s dividend payout ratio is presently 22.37%.

Crown 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.