Texas Permanent School Fund Corp Trims Holdings in Crown Holdings, Inc. (NYSE:CCK)

Texas Permanent School Fund Corp reduced its position in Crown Holdings, Inc. (NYSE:CCK) by 14.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,593 shares of the industrial products company’s stock after selling 14,810 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.07% of Crown worth $6,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in Crown during the 4th quarter worth approximately $255,000. Charles Schwab Investment Management Inc. raised its stake in shares of Crown by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 768,624 shares of the industrial products company’s stock valued at $70,783,000 after acquiring an additional 19,242 shares in the last quarter. Versor Investments LP purchased a new position in Crown in the fourth quarter valued at $295,000. Jump Financial LLC acquired a new position in Crown during the 4th quarter worth $635,000. Finally, Dimensional Fund Advisors LP raised its position in Crown by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,320,502 shares of the industrial products company’s stock valued at $121,614,000 after purchasing an additional 44,195 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction that occurred on 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 owns 593,678 shares in the company, valued at $50,480,440.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares in the company, valued at approximately $52,416,653.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 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. In the last ninety days, insiders have sold 30,000 shares of company stock worth $2,598,675. 0.90% of the stock is currently owned by insiders.

Crown Trading Up 0.0 %

CCK opened at $89.90 on Thursday. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.16 and a beta of 0.85. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $93.79. The business’s 50 day moving average is $84.38 and its two-hundred day moving average is $81.26. 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 released its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. Crown’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. Crown’s payout ratio is 28.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Loop Capital boosted their price objective on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Citigroup increased their price objective 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. Wells Fargo & Company lifted their price objective on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. StockNews.com lowered Crown from a “buy” rating to a “hold” rating in a report on Monday. Finally, UBS Group decreased their price target on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.14.

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.