AQR Capital Management LLC Raises Position in Crown Holdings, Inc. (NYSE:CCK)

AQR Capital Management LLC lifted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 121.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 736,478 shares of the industrial products company’s stock after buying an additional 404,250 shares during the period. AQR Capital Management LLC’s holdings in Crown were worth $54,787,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Mutual of America Capital Management LLC boosted its holdings in 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 during the last quarter. Vanguard Group Inc. boosted its holdings in Crown by 1.5% during 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 purchasing an additional 173,460 shares during the last quarter. Grand Jean Capital Management Inc. grew its position in Crown by 28.8% in 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 purchasing an additional 31,401 shares in the last quarter. Empowered Funds LLC purchased a new stake in Crown in the 1st quarter valued at about $6,854,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Crown by 21.0% during the 1st quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company’s stock worth $27,045,000 after buying an additional 59,267 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Buying and Selling

In other Crown news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,006 shares of company stock valued at $2,694,849. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CCK. Bank of America increased their price target on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Loop Capital lifted their target price on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays boosted their price target on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, UBS Group dropped their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.14.

Crown Trading Down 0.3 %

Shares of CCK stock opened at $94.74 on Friday. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $96.74. The company’s fifty day simple moving average is $89.21 and its two-hundred day simple moving average is $82.71. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 2.26 and a beta of 0.85.

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

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 1.06%. Crown’s dividend payout ratio is currently 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.