American Century Companies Inc. Raises Holdings in Crown Holdings, Inc. (NYSE:CCK)

American Century Companies Inc. boosted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 99.2% in the 2nd quarter, Holdings Channel reports. The fund owned 102,828 shares of the industrial products company’s stock after buying an additional 51,199 shares during the period. American Century Companies Inc.’s holdings in Crown were worth $7,649,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 $50,323,381.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the business’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 transaction of $1,275,450.00. Following the completion of the sale, 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 worth $2,598,675. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CCK shares. Citigroup increased their price target on Crown from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America lifted their price target 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. Royal Bank of Canada upped their price objective on shares of Crown from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. StockNews.com lowered shares of Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Loop Capital upped their price target on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.14.

Crown Stock Performance

Shares of Crown stock opened at $95.52 on Tuesday. 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 business’s 50 day moving average price is $87.82 and its 200 day moving average price is $82.30. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.13 and a beta of 0.85. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $95.72.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. On average, research analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s 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.