Crown Holdings, Inc. (NYSE:CCK) Director James H. Miller Sells 1,006 Shares

Crown Holdings, Inc. (NYSE:CCK) Director James H. Miller sold 1,006 shares of Crown stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Crown Stock Performance

CCK traded up $0.24 during trading on Tuesday, reaching $95.72. 919,730 shares of the company’s stock were exchanged, compared to its average volume of 1,131,300. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $96.36. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The business has a 50 day moving average price of $87.82 and a 200 day moving average price of $82.30. The company has a market capitalization of $11.56 billion, a P/E ratio of 27.53, a PEG ratio of 2.13 and a beta of 0.85.

Crown (NYSE:CCK) last issued its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts predict that Crown Holdings, Inc. will post 6.15 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Crown’s dividend payout ratio is presently 28.82%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of 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 reissued an “outperform” rating and issued a $105.00 price target on shares of Crown in a research report on Tuesday. Wells Fargo & Company lifted their price target on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Bank of America lifted their price target 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. Finally, Barclays lifted their price target on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Four 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.14.

Institutional Investors Weigh In On Crown

Institutional investors and hedge funds have recently made changes to their positions in the company. Sessa Capital IM L.P. lifted its position in 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 worth $244,697,000 after buying an additional 1,989,374 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in Crown during the 1st quarter worth about $119,167,000. AQR Capital Management LLC lifted its position in Crown by 121.7% during the 2nd quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock worth $54,787,000 after buying an additional 404,250 shares in the last quarter. Metropolis Capital Ltd acquired a new position in Crown during the 2nd quarter worth about $29,291,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Crown during the 1st quarter worth about $29,981,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.