Natixis Advisors LLC Sells 198,772 Shares of Crown Holdings, Inc. (NYSE:CCK)

Natixis Advisors LLC lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 56.2% during the 2nd quarter, Holdings Channel reports. The firm owned 155,030 shares of the industrial products company’s stock after selling 198,772 shares during the period. Natixis Advisors LLC’s holdings in Crown were worth $11,533,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. 1832 Asset Management L.P. bought a new stake in Crown in the 1st quarter valued at $119,167,000. Norges Bank bought a new stake in shares of Crown in the fourth quarter worth about $109,826,000. Clearbridge Investments LLC lifted its position in shares of Crown by 474.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock worth $111,854,000 after buying an additional 1,003,312 shares in the last quarter. Boston Partners bought a new position in Crown during the fourth quarter valued at approximately $84,960,000. Finally, Metropolis Capital Ltd purchased a new position in Crown during the 2nd quarter valued at approximately $29,291,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CCK. Truist Financial upped their price objective on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Morgan Stanley upped their price target on shares of Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday. Barclays lifted their price objective on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Citigroup upped their target price on shares of Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company increased their price target on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.14.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the sale, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Crown Stock Performance

Shares of Crown stock opened at $90.38 on Friday. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $93.79. The company has a market capitalization of $10.91 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. The stock’s fifty day moving average is $83.35 and its two-hundred day moving average is $80.84. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.68 EPS. As a group, analysts expect that Crown Holdings, Inc. will post 6.16 earnings per share for the current year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. Crown’s payout ratio is 28.82%.

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.