Natixis Advisors LLC Boosts Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Natixis Advisors LLC grew its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,080 shares of the industrial products company’s stock after buying an additional 16,050 shares during the quarter. Natixis Advisors LLC’s holdings in Crown were worth $16,403,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. CIBC Asset Management Inc boosted its stake in Crown by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,304 shares of the industrial products company’s stock valued at $413,000 after acquiring an additional 225 shares during the last quarter. ING Groep NV acquired a new stake in shares of Crown in the 3rd quarter valued at about $1,908,000. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Crown by 6.7% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,539 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 223 shares in the last quarter. Metis Global Partners LLC bought a new position in shares of Crown during the third quarter worth about $494,000. Finally, Victory Capital Management Inc. grew its stake in Crown by 7.8% in the third 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. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Price Performance

Shares of NYSE:CCK opened at $89.53 on Wednesday. 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’s 50 day moving average is $93.54 and its two-hundred day moving average is $86.68. The firm has a market capitalization of $10.71 billion, a P/E ratio of 110.53, a PEG ratio of 1.99 and a beta of 0.85. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46.

Crown (NYSE:CCK) last posted its earnings results 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. Crown had a return on equity of 24.57% and a net margin of 0.83%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Analysts anticipate that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Dividend Announcement

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

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock worth $3,157,399 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CCK. Barclays upped their price objective on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company upped their price target on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Morgan Stanley lifted their price objective on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Royal Bank of Canada increased 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. Finally, Mizuho set a $110.00 price target on shares of Crown in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and an average target price 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.