Algert Global LLC Takes Position in Crown Holdings, Inc. (NYSE:CCK)

Algert Global LLC purchased a new position in Crown Holdings, Inc. (NYSE:CCK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,879 shares of the industrial products company’s stock, valued at approximately $468,000.

Several other large investors have also added to or reduced their stakes in CCK. Victory Capital Management Inc. raised its holdings in Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock worth $544,301,000 after purchasing an additional 412,973 shares in the last quarter. Sessa Capital IM L.P. raised its stake in Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after buying an additional 1,989,374 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Crown by 31.5% in the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after buying an additional 473,000 shares during the period. Clearbridge Investments LLC boosted its position in Crown by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock valued at $124,808,000 after acquiring an additional 111,589 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Crown by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock worth $109,504,000 after acquiring an additional 79,502 shares during the period. Institutional investors own 90.93% of the company’s stock.

Crown Trading Down 1.0 %

Shares of NYSE:CCK opened at $92.09 on Friday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The company has a market cap of $11.02 billion, a P/E ratio of 113.69, a PEG ratio of 2.06 and a beta of 0.85. The stock’s fifty day moving average price is $93.53 and its 200-day moving average price is $87.11.

Crown (NYSE:CCK) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Sell-side analysts expect that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Crown’s payout ratio is 123.46%.

Analyst Ratings Changes

A number of research firms have recently commented on CCK. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Citigroup upped their target price on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Loop Capital upped their price objective on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada lifted their target price on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Three 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 data from MarketBeat.com, Crown has an average rating of “Moderate Buy” and an average target price of $106.62.

Insider Transactions at Crown

In related news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 7.49 % decrease in their ownership of the stock. 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 company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,506 shares of company stock worth $3,157,399 in the last ninety days. Insiders own 0.90% of the company’s stock.

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.