Westwood Holdings Group Inc. Purchases 5,142 Shares of Crown Holdings, Inc. (NYSE:CCK)

Westwood Holdings Group Inc. increased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 235,370 shares of the industrial products company’s stock after buying an additional 5,142 shares during the period. Westwood Holdings Group Inc.’s holdings in Crown were worth $17,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CCK. Nisa Investment Advisors LLC boosted its position in shares of Crown by 6.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 158 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Crown by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 160 shares during the last quarter. Fifth Third Bancorp grew its stake in Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after buying an additional 176 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Crown by 3.7% in the 1st quarter. Verdence Capital Advisors LLC now owns 5,348 shares of the industrial products company’s stock worth $424,000 after buying an additional 193 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Crown by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after buying an additional 209 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly 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 related news, CEO Timothy J. Donahue sold 15,000 shares of the firm’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 transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The stock was 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 directly owns 578,678 shares in the company, valued at $52,416,653.24. The disclosure for this sale can be found here. Insiders sold a total of 30,000 shares of company stock worth $2,598,675 in the last three months. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented 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 research note on Thursday, July 25th. Royal Bank of Canada raised their price objective on Crown from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, July 26th. 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 research report on Wednesday, July 24th. Morgan Stanley boosted their price objective on shares of Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, Loop Capital increased their target price on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $101.14.

Crown Stock Performance

NYSE:CCK opened at $93.70 on Friday. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $94.46. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The firm’s fifty day simple moving average is $87.43 and its 200 day simple moving average is $82.13. The stock has a market cap of $11.31 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.22. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. During the same quarter in the prior year, the company earned $1.68 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, research analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders 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 1.07%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio is presently 28.82%.

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.