GSA Capital Partners LLP Reduces Position in Crown Holdings, Inc. (NYSE:CCK)

GSA Capital Partners LLP trimmed its stake in Crown Holdings, Inc. (NYSE:CCK) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,937 shares of the industrial products company’s stock after selling 1,247 shares during the period. GSA Capital Partners LLP’s holdings in Crown were worth $953,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd increased its holdings in Crown by 156.5% in the 3rd 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. Catalyst Capital Advisors LLC bought a new stake in Crown during the 3rd quarter worth approximately $48,000. EntryPoint Capital LLC bought a new position in shares of Crown in the first quarter worth approximately $41,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Crown in the third quarter worth $55,000. 90.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial upped 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. Mizuho set a $110.00 price target on Crown in a research note on Friday, October 18th. Bank of America boosted 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. Loop Capital raised their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada increased their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.62.

Insiders Place Their Bets

In other Crown 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 value of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This represents a 1.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James H. Miller sold 1,006 shares of Crown 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 sale, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 7.49 % decrease in their ownership of the stock. 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 over the last 90 days. Insiders own 0.90% of the company’s stock.

Crown Price Performance

Shares of Crown stock opened at $89.84 on Friday. The stock has a 50 day moving average price of $93.58 and a 200-day moving average price of $86.52. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 110.91, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

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

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s dividend payout ratio (DPR) is currently 123.46%.

Crown 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.