Northwestern Mutual Wealth Management Co. Raises Stake in Crown Holdings, Inc. (NYSE:CCK)

Northwestern Mutual Wealth Management Co. increased its stake in Crown Holdings, Inc. (NYSE:CCK) by 21.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,273 shares of the industrial products company’s stock after purchasing an additional 577 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Crown were worth $243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCK. Creative Planning increased its holdings in Crown by 4.2% in the second quarter. Creative Planning now owns 44,249 shares of the industrial products company’s stock valued at $3,292,000 after buying an additional 1,797 shares in the last quarter. Vulcan Value Partners LLC increased its stake in Crown by 162.1% in the 2nd quarter. Vulcan Value Partners LLC now owns 183,368 shares of the industrial products company’s stock valued at $13,641,000 after purchasing an additional 113,406 shares in the last quarter. Sessa Capital IM L.P. raised its holdings in 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 last quarter. Mackenzie Financial Corp boosted its position in Crown by 19.1% during the second quarter. Mackenzie Financial Corp now owns 4,807 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 770 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Crown by 166.6% in the second quarter. Millennium Management LLC now owns 509,909 shares of the industrial products company’s stock valued at $37,932,000 after purchasing an additional 318,617 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

CCK has been the subject of several research reports. StockNews.com downgraded Crown from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Bank of America upped their price target on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Crown in a research note on Tuesday, September 24th. Citigroup upped their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, UBS Group dropped their price target on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Crown has a consensus rating of “Moderate Buy” and an average target price of $101.86.

Crown Stock Up 0.4 %

CCK opened at $92.60 on Thursday. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.74. The business has a 50-day moving average of $90.60 and a two-hundred day moving average of $83.65. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86.

Crown (NYSE:CCK) last released its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. Crown’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 earnings per share. On average, research analysts expect that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 1.08%. Crown’s dividend payout ratio is presently 28.82%.

Insider Transactions at Crown

In other 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 transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares in the company, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now owns 12,424 shares in the company, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the sale, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,506 shares of company stock worth $3,392,349 in the last three months. 0.90% of the stock is currently owned by company 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.