Sumitomo Mitsui Trust Group Inc. Has $23.88 Million Position in Crown Holdings, Inc. (NYSE:CCK)

Sumitomo Mitsui Trust Group Inc. grew its position in Crown Holdings, Inc. (NYSE:CCK) by 4.3% during the 3rd quarter, Holdings Channel reports. The firm owned 249,041 shares of the industrial products company’s stock after purchasing an additional 10,295 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Crown were worth $23,878,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CCK. Nisa Investment Advisors LLC boosted its stake in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 158 shares in the last quarter. GAMMA Investing LLC grew its holdings in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares during the last quarter. Fifth Third Bancorp increased its position in Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 176 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Crown by 2.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after acquiring an additional 183 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Trading Down 0.2 %

Shares of NYSE:CCK opened at $89.86 on Friday. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 110.94, a PEG ratio of 2.05 and a beta of 0.85. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The company’s fifty day simple moving average is $93.58 and its 200 day simple moving average is $86.55. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

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

Crown Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have issued reports on CCK. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Barclays lifted their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America lifted their price target on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their price target on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Robert W. Baird increased their target price on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,187,734.40. This represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,506 shares of company stock worth $3,157,399. 0.90% of the stock is owned by insiders.

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.