Ameritas Investment Partners Inc. Has $1.89 Million Holdings in Crown Holdings, Inc. (NYSE:CCK)

Ameritas Investment Partners Inc. decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 25,377 shares of the industrial products company’s stock after selling 1,019 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Crown were worth $1,888,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mutual of America Capital Management LLC boosted its position in shares of Crown by 10.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock worth $12,185,000 after acquiring an additional 14,362 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Crown by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after purchasing an additional 173,460 shares during the last quarter. Grand Jean Capital Management Inc. raised its holdings in shares of Crown by 28.8% during the 4th quarter. Grand Jean Capital Management Inc. now owns 140,384 shares of the industrial products company’s stock worth $12,928,000 after buying an additional 31,401 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Crown during the 1st quarter worth $6,854,000. Finally, Russell Investments Group Ltd. boosted its stake in Crown by 21.0% in the first quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock valued at $27,045,000 after buying an additional 59,267 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Crown Stock Down 0.8 %

Shares of NYSE CCK opened at $93.70 on Monday. The company’s 50 day moving average price is $87.43 and its 200-day moving average price is $82.17. 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 Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $94.46. The company has a market capitalization 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 issued its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the firm posted $1.68 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders 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 yield of 1.07%. Crown’s payout ratio is currently 28.82%.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction 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 owns 593,678 shares in the company, valued at approximately $50,480,440.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the sale, the chief executive officer now owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $1,275,450.00. Following the transaction, the chief executive officer now directly 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 three months, insiders have sold 30,000 shares of company stock valued at $2,598,675. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on CCK shares. Bank of America boosted their target price on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Truist Financial increased their price objective on shares of Crown from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of Crown from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Morgan Stanley increased their price target on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.