Albar Capital Ltd Acquires New Holdings in Crown Holdings, Inc. (NYSE:CCK)

Albar Capital Ltd bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 64,020 shares of the industrial products company’s stock, valued at approximately $4,762,000. Crown accounts for about 0.7% of Albar Capital Ltd’s holdings, making the stock its 24th biggest holding.

Other institutional investors have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Crown by 62.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock worth $1,722,000 after purchasing an additional 8,857 shares during the period. Appian Way Asset Management LP acquired a new stake in shares of Crown in the second quarter valued at $1,110,000. 1832 Asset Management L.P. raised its holdings in shares of Crown by 31.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock valued at $147,032,000 after buying an additional 473,000 shares during the period. Westwood Holdings Group Inc. lifted its stake in Crown by 2.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 235,370 shares of the industrial products company’s stock worth $17,509,000 after acquiring an additional 5,142 shares in the last quarter. Finally, Sei Investments Co. grew its position in Crown by 139.2% in the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock valued at $9,104,000 after acquiring an additional 71,227 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com cut shares of Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. UBS Group cut their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Loop Capital boosted their price target on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Crown in a research note on Tuesday. Finally, Barclays boosted their target price on Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.14.

Crown Stock Performance

Shares of CCK opened at $95.72 on Wednesday. The company has a 50-day moving average of $88.19 and a two-hundred day moving average of $82.42. The stock has a market cap of $11.55 billion, a P/E ratio of 27.59, a PEG ratio of 2.26 and a beta of 0.85. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.36. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00.

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

Crown Dividend Announcement

The company 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 was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Activity

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 sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 578,678 shares in the company, valued at approximately $52,416,653.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. The disclosure for this sale can be found here. Insiders sold a total of 31,006 shares of company stock valued at $2,694,849 in the last 90 days. 0.90% of the stock is currently 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.