Fifth Third Bancorp Increases Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Fifth Third Bancorp increased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 36.1% during the second quarter, HoldingsChannel.com reports. The fund owned 664 shares of the industrial products company’s stock after acquiring an additional 176 shares during the period. Fifth Third Bancorp’s holdings in Crown were worth $49,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CCK. Rise Advisors LLC bought a new position in Crown in the 1st quarter worth about $27,000. Quest Partners LLC bought a new position in Crown in the fourth quarter valued at $34,000. Mather Group LLC. purchased a new position in shares of Crown in the 1st quarter worth about $32,000. Quarry LP lifted its position in Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after buying an additional 276 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Crown during the first quarter worth approximately $41,000. 90.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the transaction, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 transaction, the director now owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares in the company, valued at approximately $50,323,381.30. The disclosure for this sale can be found here. In the last three months, insiders sold 31,500 shares of company stock valued at $2,665,695. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup increased their target price on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Truist Financial upped their target price on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Robert W. Baird increased their price target on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus target price of $100.21.

Crown Trading Up 0.8 %

Shares of CCK opened at $90.24 on Tuesday. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $94.49. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The company’s fifty day moving average is $81.34 and its 200 day moving average is $80.02. The stock has a market capitalization of $10.90 billion, a PE ratio of 26.01, a P/E/G ratio of 2.09 and a beta of 0.85.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the company earned $1.68 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts expect that Crown Holdings, Inc. will post 6.15 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. Crown’s dividend payout ratio is 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.