Crossmark Global Holdings Inc. Increases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Crossmark Global Holdings Inc. boosted its stake in Crown Holdings, Inc. (NYSE:CCK) by 17.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,766 shares of the industrial products company’s stock after purchasing an additional 1,573 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Crown were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Covestor Ltd raised its stake in shares of Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares in the last quarter. RKL Wealth Management LLC purchased a new position in shares of Crown during the third quarter worth approximately $208,000. Carmel Capital Partners LLC raised its stake in shares of Crown by 2.3% during the third quarter. Carmel Capital Partners LLC now owns 17,150 shares of the industrial products company’s stock worth $1,644,000 after acquiring an additional 388 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Crown during the third quarter worth approximately $144,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Crown during the third quarter worth approximately $48,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock valued at $3,157,399 in the last quarter. 0.90% of the stock is owned by insiders.

Crown Stock Performance

Shares of Crown stock opened at $90.02 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $10.77 billion, a P/E ratio of 111.14, a P/E/G ratio of 2.08 and a beta of 0.85. The business has a fifty day simple moving average of $93.61 and a two-hundred day simple moving average of $86.44. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. On average, equities analysts forecast that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s dividend payout ratio is presently 123.46%.

Analysts Set New Price Targets

CCK has been the topic of several research reports. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Bank of America raised their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their target price on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial raised their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird raised their target price on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

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.