Metis Global Partners LLC Invests $494,000 in Crown Holdings, Inc. (NYSE:CCK)

Metis Global Partners LLC bought a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,155 shares of the industrial products company’s stock, valued at approximately $494,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Crown by 1.5% during the first quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock worth $951,306,000 after acquiring an additional 176,639 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock worth $544,301,000 after purchasing an additional 412,973 shares in the last quarter. Sessa Capital IM L.P. grew its position in Crown by 153.0% during the 2nd 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. 1832 Asset Management L.P. raised its holdings in shares of Crown by 31.5% in the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after buying an additional 473,000 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Crown by 7.1% during the second quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock worth $124,808,000 after buying an additional 111,589 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Crown news, Director James H. Miller sold 1,006 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 owns 578,678 shares in the company, valued at approximately $52,416,653.24. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock worth $3,157,399 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Crown Stock Down 0.5 %

CCK stock opened at $89.39 on Tuesday. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The firm’s fifty day moving average is $93.58 and its 200 day moving average is $86.58. The firm has a market cap of $10.69 billion, a PE ratio of 110.36, a P/E/G ratio of 1.99 and a beta of 0.85.

Crown (NYSE:CCK) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The firm 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, research analysts forecast that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s payout ratio is 123.46%.

Analyst Ratings Changes

Several research firms recently issued reports on CCK. Royal Bank of Canada upped their target price on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Mizuho set a $110.00 price objective on Crown in a report on Friday, October 18th. Morgan Stanley upped their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Barclays raised their price target on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Truist Financial upped their price objective on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $106.62.

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.