Atlas Capital Advisors LLC Sells 500 Shares of Crown Holdings, Inc. (NYSE:CCK)

Atlas Capital Advisors LLC decreased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 33.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,000 shares of the industrial products company’s stock after selling 500 shares during the period. Atlas Capital Advisors LLC’s holdings in Crown were worth $79,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CCK. Envestnet Portfolio Solutions Inc. bought a new position in Crown during the third quarter valued at approximately $204,000. Treasurer of the State of North Carolina boosted its stake in Crown by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 48,116 shares of the industrial products company’s stock valued at $4,257,000 after buying an additional 180 shares during the last quarter. Bank of Nova Scotia boosted its stake in Crown by 11.9% during the third quarter. Bank of Nova Scotia now owns 817,750 shares of the industrial products company’s stock valued at $72,355,000 after buying an additional 87,123 shares during the last quarter. Covalis Capital LLP bought a new position in Crown during the third quarter valued at approximately $2,834,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Crown during the third quarter valued at approximately $32,989,000. Institutional investors own 90.93% of the company’s stock.

Crown Trading Down 1.5 %

CCK opened at $77.43 on Thursday. The stock’s fifty day moving average is $81.55 and its two-hundred day moving average is $82.44. The company has a market capitalization of $9.35 billion, a P/E ratio of 22.31, a PEG ratio of 2.08 and a beta of 0.88. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $96.35. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 2.26.

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

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued 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 payout ratio is currently 28.82%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCK. Robert W. Baird increased their price target on Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Wolfe Research initiated coverage on Crown in a research report on Friday, March 1st. They set an “outperform” rating and a $102.00 price objective on the stock. Morgan Stanley initiated coverage on Crown in a research report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective on the stock. Loop Capital upped their price objective on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company upped their price objective on Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.29.

Insiders Place Their Bets

In other Crown news, Director James H. Miller sold 9,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, the director now owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Crown news, Director James H. Miller sold 9,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, the director now owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total value of $637,500.00. Following the sale, the chief executive officer now directly owns 608,678 shares in the company, valued at approximately $51,737,630. The disclosure for this sale can be found here. Insiders have sold 39,000 shares of company stock worth $3,300,420 in the last ninety days. 0.90% of the stock is owned by company insiders.

About Crown

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.