Crown Holdings, Inc. (NYSE:CCK) Stake Boosted by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd increased its stake in Crown Holdings, Inc. (NYSE:CCK) by 13.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,612 shares of the industrial products company’s stock after purchasing an additional 3,036 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Crown were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Sound Income Strategies LLC purchased a new position in Crown during the 4th quarter valued at about $26,000. Rise Advisors LLC purchased a new position in Crown during the 1st quarter valued at about $27,000. Mather Group LLC. acquired a new stake in shares of Crown during the 1st quarter valued at about $32,000. Quest Partners LLC acquired a new stake in shares of Crown during the 4th quarter valued at about $34,000. Finally, Quarry LP lifted its holdings in shares of Crown by 190.3% during the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Ratings Changes

CCK has been the subject of several research reports. Wells Fargo & Company lifted their price target on Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Truist Financial restated a “hold” rating and issued a $88.00 target price (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Morgan Stanley assumed coverage on Crown in a report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price for the company. Robert W. Baird boosted their target price on Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. boosted their target price on Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

Insiders Place Their Bets

In other news, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the sale, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the sale, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 22,500 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the sale, the chief executive officer now owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The disclosure for this sale can be found here. Insiders sold 39,000 shares of company stock worth $3,300,420 over the last three months. 0.90% of the stock is currently owned by corporate insiders.

Crown Stock Performance

CCK opened at $77.54 on Friday. The stock has a market cap of $9.36 billion, a PE ratio of 22.35, a P/E/G ratio of 2.04 and a beta of 0.88. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $96.35. The stock’s 50 day simple moving average is $81.44 and its 200-day simple moving average is $82.65.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Crown had a return on equity of 23.95% and a net margin of 3.51%. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the business posted $1.20 earnings per share. Crown’s quarterly revenue was down 6.4% on a year-over-year basis. Sell-side analysts forecast that Crown Holdings, Inc. will post 5.95 EPS for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.29%. Crown’s dividend payout ratio is currently 28.82%.

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.