Crown Holdings, Inc. (NYSE:CCK) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in Crown Holdings, Inc. (NYSE:CCK) by 3.6% during the third quarter, HoldingsChannel.com reports. The fund owned 99,117 shares of the industrial products company’s stock after selling 3,751 shares during the period. The Manufacturers Life Insurance Company’s holdings in Crown were worth $9,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC increased its position in shares of Crown by 89.6% in the first quarter. Tidal Investments LLC now owns 9,844 shares of the industrial products company’s stock worth $780,000 after acquiring an additional 4,653 shares in the last quarter. Mather Group LLC. lifted its stake in Crown by 150.0% in the 2nd quarter. Mather Group LLC. now owns 1,000 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 600 shares in the last quarter. CWM LLC boosted its position in Crown by 167.1% during the 2nd quarter. CWM LLC now owns 4,612 shares of the industrial products company’s stock worth $343,000 after acquiring an additional 2,885 shares during the period. Gulf International Bank UK Ltd increased its holdings in shares of Crown by 1.0% in the 2nd quarter. Gulf International Bank UK Ltd now owns 25,870 shares of the industrial products company’s stock valued at $1,924,000 after purchasing an additional 258 shares during the period. Finally, MJP Associates Inc. ADV increased its stake in Crown by 14.7% in the 2nd quarter. MJP Associates Inc. ADV now owns 12,566 shares of the industrial products company’s stock valued at $935,000 after buying an additional 1,615 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,506 shares of company stock worth $3,157,399. Company insiders own 0.90% of the company’s stock.

Crown Stock Down 0.4 %

Shares of CCK opened at $92.03 on Wednesday. The company has a 50-day simple moving average of $93.40 and a 200-day simple moving average of $87.24. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46. The firm has a market capitalization of $11.01 billion, a P/E ratio of 113.61, a P/E/G ratio of 2.05 and a beta of 0.84.

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

Crown Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Truist Financial increased their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Wells Fargo & Company boosted their target price on Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Barclays increased their price target on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

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.