Claro Advisors LLC Makes New $682,000 Investment in Crown Holdings, Inc. (NYSE:CCK)

Claro Advisors LLC acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,118 shares of the industrial products company’s stock, valued at approximately $682,000.

Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of Crown by 6.1% during the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 158 shares in the last quarter. GAMMA Investing LLC grew its position in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares during the last quarter. Fifth Third Bancorp increased 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 purchasing an additional 176 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 209 shares during the period. Finally, OFI Invest Asset Management raised its holdings in Crown by 2.2% during the 2nd quarter. OFI Invest Asset Management now owns 11,267 shares of the industrial products company’s stock valued at $782,000 after buying an additional 240 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

CCK has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Crown from $88.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Citigroup upped their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Mizuho set a $110.00 target price on shares of Crown in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Crown in a research report on Tuesday, September 24th. Finally, Bank of America increased their target price on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.69.

Crown Trading Up 4.2 %

Shares of NYSE CCK opened at $97.75 on Friday. The firm’s 50 day moving average price is $91.66 and its 200-day moving average price is $84.40. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46. 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 company has a market cap of $11.80 billion, a PE ratio of 28.17, a P/E/G ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. The business 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%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 EPS. On average, equities research analysts expect that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Crown’s dividend payout ratio (DPR) is 28.82%.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction 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 completion of the sale, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction 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 directly owns 586,178 shares in the company, valued at $50,323,381.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,506 shares of company stock worth $3,392,349. 0.90% of the stock is owned by insiders.

Crown 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.