Forsta AP Fonden Reduces Holdings in Crown Holdings, Inc. (NYSE:CCK)

Forsta AP Fonden decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 25.3% in the 2nd quarter, Holdings Channel reports. The fund owned 19,800 shares of the industrial products company’s stock after selling 6,700 shares during the quarter. Forsta AP Fonden’s holdings in Crown were worth $1,473,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC purchased a new position in Crown in the fourth quarter worth $255,000. Jump Financial LLC bought a new stake in Crown in the fourth quarter worth $635,000. Dimensional Fund Advisors LP boosted its position in Crown by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,320,502 shares of the industrial products company’s stock valued at $121,614,000 after buying an additional 44,195 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Crown by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 160 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Crown by 5.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,294 shares of the industrial products company’s stock valued at $856,000 after buying an additional 503 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Trading Up 1.2 %

Shares of NYSE CCK opened at $92.45 on Tuesday. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $93.79. 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 firm has a 50-day moving average of $85.86 and a 200 day moving average of $81.67. The stock has a market cap of $11.16 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85.

Crown (NYSE:CCK) last issued its quarterly 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. Crown had a return on equity of 23.96% and a net margin of 3.68%. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the firm posted $1.68 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. Crown’s payout ratio is presently 28.82%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CCK shares. Loop Capital increased their target price on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their target price on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Royal Bank of Canada raised their price target on Crown from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Bank of America boosted their price objective on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.14.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the sale, the chief executive officer now directly owns 578,678 shares in the company, valued at approximately $52,416,653.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. Insiders sold a total of 30,000 shares of company stock valued at $2,598,675 in the last quarter. 0.90% of the stock is owned by insiders.

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.