Crown (NYSE:CCK) Sets New 12-Month High at $96.90

Crown Holdings, Inc. (NYSE:CCK)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $96.90 and last traded at $96.90, with a volume of 124 shares changing hands. The stock had previously closed at $95.88.

Wall Street Analysts Forecast Growth

CCK has been the subject of several recent analyst reports. StockNews.com cut shares of Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. UBS Group lowered their price target on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Bank of America raised their target price on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays boosted their target price on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company increased their price target on Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Crown presently has an average rating of “Moderate Buy” and an average price target of $101.14.

Crown Stock Up 0.1 %

The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $11.59 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.26 and a beta of 0.85. The firm’s fifty day moving average is $89.21 and its 200-day moving average is $82.78.

Crown (NYSE:CCK) last released 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 business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company earned $1.68 EPS. Crown’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts predict that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. 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 is 28.82%.

Insiders Place Their Bets

In other Crown news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,187,734.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction 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 approximately $1,187,734.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The disclosure for this sale can be found here. Insiders have 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc lifted its position in Crown by 27.8% during the fourth quarter. TD Asset Management Inc now owns 10,762 shares of the industrial products company’s stock worth $991,000 after purchasing an additional 2,340 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Crown by 53.4% during the 4th quarter. Allianz Asset Management GmbH now owns 52,250 shares of the industrial products company’s stock worth $4,812,000 after acquiring an additional 18,197 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Crown by 4.1% in the fourth quarter. Treasurer of the State of North Carolina now owns 50,078 shares of the industrial products company’s stock valued at $4,612,000 after acquiring an additional 1,962 shares during the last quarter. Alberta Investment Management Corp bought a new position in Crown in the fourth quarter valued at approximately $203,000. Finally, California State Teachers Retirement System lifted its stake in Crown by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 183,065 shares of the industrial products company’s stock worth $16,858,000 after purchasing an additional 2,091 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.