CWA Asset Management Group LLC Buys Shares of 12,706 Crown Holdings, Inc. (NYSE:CCK)

CWA Asset Management Group LLC purchased a new position in Crown Holdings, Inc. (NYSE:CCK) during the fourth quarter, Holdings Channel reports. The fund purchased 12,706 shares of the industrial products company’s stock, valued at approximately $1,051,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC grew its position in Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after acquiring an additional 749,085 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of 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. State Street Corp increased its position in shares of Crown by 1.8% during the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after purchasing an additional 69,260 shares during the last quarter. Sessa Capital IM L.P. raised its holdings in shares of Crown by 153.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after buying an additional 1,989,374 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Crown by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company’s stock worth $197,242,000 after buying an additional 82,764 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Truist Financial lifted their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday. Mizuho cut their price target on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday. Citigroup lifted their price objective on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday. Finally, Morgan Stanley increased their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.62.

Insider Buying and Selling at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown 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 transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Crown Stock Up 0.2 %

Shares of NYSE CCK opened at $80.27 on Wednesday. The firm has a fifty day simple moving average of $88.54 and a two-hundred day simple moving average of $87.79. The firm has a market capitalization of $9.60 billion, a PE ratio of 99.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46.

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

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.25%. Crown’s payout ratio is 123.46%.

Crown Company 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.