Vulcan Value Partners LLC Has $13.64 Million Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Vulcan Value Partners LLC increased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 162.1% in the 2nd quarter, Holdings Channel reports. The fund owned 183,368 shares of the industrial products company’s stock after purchasing an additional 113,406 shares during the period. Vulcan Value Partners LLC’s holdings in Crown were worth $13,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sessa Capital IM L.P. boosted its holdings in shares of Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after purchasing an additional 1,989,374 shares during the period. Mackenzie Financial Corp lifted its position in Crown by 19.1% in the 2nd quarter. Mackenzie Financial Corp now owns 4,807 shares of the industrial products company’s stock worth $358,000 after buying an additional 770 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Crown by 166.6% during the 2nd quarter. Millennium Management LLC now owns 509,909 shares of the industrial products company’s stock valued at $37,932,000 after acquiring an additional 318,617 shares in the last quarter. MBB Public Markets I LLC acquired a new position in shares of Crown in the second quarter worth $641,000. Finally, AQR Capital Management LLC raised its holdings in shares of Crown by 121.7% during the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock worth $54,787,000 after acquiring an additional 404,250 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Trading Down 0.3 %

Shares of NYSE:CCK opened at $94.74 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The stock’s 50-day moving average is $89.21 and its 200-day moving average is $82.71. The company has a market cap of $11.44 billion, a P/E ratio of 27.30, a P/E/G ratio of 2.26 and a beta of 0.85. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $96.74.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping 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 firm posted $1.68 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. Equities research analysts predict that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors 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 dividend on an annualized basis and a dividend yield of 1.06%. Crown’s payout ratio is 28.82%.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the transaction, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the sale, the chief executive officer now owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,006 shares of company stock worth $2,694,849. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com cut Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Morgan Stanley lifted their price target on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Barclays increased their price objective on Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Truist Financial boosted their target price on shares of Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, UBS Group cut their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Four 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.14.

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.