Rhumbline Advisers Sells 14,672 Shares of Crown Holdings, Inc. (NYSE:CCK)

Rhumbline Advisers cut its holdings in Crown Holdings, Inc. (NYSE:CCK) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 338,358 shares of the industrial products company’s stock after selling 14,672 shares during the period. Rhumbline Advisers’ holdings in Crown were worth $25,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Crown in the 1st quarter valued at approximately $27,000. Quest Partners LLC bought a new position in Crown in the 4th quarter valued at approximately $34,000. Mather Group LLC. bought a new position in Crown in the 1st quarter valued at approximately $32,000. Quarry LP raised its stake in 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. Finally, EntryPoint Capital LLC purchased a new stake in Crown during the 1st quarter valued at $41,000. 90.93% of the stock is owned by institutional investors.

Crown Trading Up 1.1 %

Shares of CCK stock opened at $91.36 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 debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The firm has a market capitalization of $11.03 billion, a PE ratio of 26.33, a PEG ratio of 2.14 and a beta of 0.85. The stock has a fifty day simple moving average of $83.69 and a two-hundred day simple moving average of $81.03.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business posted $1.68 EPS. Crown’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts predict that Crown Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the 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 completion of the transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the 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 completion of the transaction, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock valued at $2,598,675 in the last 90 days. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. UBS Group decreased their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Bank of America boosted their target price on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Loop Capital boosted their target price on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.14.

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.