Headlands Technologies LLC Sells 3,485 Shares of Crown Holdings, Inc. (NYSE:CCK)

Headlands Technologies LLC lowered its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 77.1% during the second quarter, Holdings Channel reports. The fund owned 1,033 shares of the industrial products company’s stock after selling 3,485 shares during the period. Headlands Technologies LLC’s holdings in Crown were worth $77,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new stake in shares of Crown in the first quarter valued at approximately $27,000. Mather Group LLC. acquired a new stake in shares of Crown in the 1st quarter valued at $32,000. Quest Partners LLC bought a new stake in shares of Crown during the fourth quarter worth $34,000. Quarry LP lifted its stake in shares of Crown by 190.3% during the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 276 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Crown in the first quarter valued at about $41,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Up 1.2 %

NYSE:CCK opened at $92.45 on Tuesday. The stock has a 50-day simple moving average of $85.86 and a 200 day simple moving average of $81.67. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $93.79. The company has a market cap of $11.16 billion, a PE ratio of 26.64, a PEG ratio of 2.13 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05.

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 analysts’ consensus estimates 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 period last year, the company earned $1.68 earnings per share. On average, sell-side analysts expect that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio is currently 28.82%.

Insider Buying and Selling

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 of the company’s stock, valued at approximately $52,416,653.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares in the company, valued at $52,416,653.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the business’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 transaction, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,000 shares of company stock worth $2,598,675. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CCK. Loop Capital upped their target price on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada raised their price objective on shares of Crown from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. 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. Truist Financial lifted their price objective on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley increased their target price on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown has an average rating of “Moderate Buy” and a consensus price target of $101.14.

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.