Nordea Investment Management AB Has $90.51 Million Holdings in Crown Holdings, Inc. (NYSE:CCK)

Nordea Investment Management AB lifted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 19.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,095,382 shares of the industrial products company’s stock after buying an additional 176,959 shares during the quarter. Nordea Investment Management AB owned about 0.92% of Crown worth $90,511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the period. Covestor Ltd raised its holdings in Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after buying an additional 277 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Crown in the third quarter valued at $44,000. Catalyst Capital Advisors LLC acquired a new position in shares of Crown during the third quarter valued at about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Crown during the third quarter worth about $55,000. Institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

NYSE:CCK opened at $80.27 on Wednesday. The company has a market capitalization of $9.60 billion, a P/E ratio of 99.10, a P/E/G ratio of 1.95 and a beta of 0.86. The business has a fifty day simple moving average of $88.54 and a two-hundred day simple moving average of $87.79. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46.

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

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Crown’s dividend payout ratio is 123.46%.

Insiders Place Their Bets

In other news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CCK has been the subject of a number of analyst reports. Mizuho cut their price target on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday. Truist Financial lifted their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday. Barclays raised 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. Morgan Stanley upped their target price on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada raised their price target on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and a consensus target price of $104.62.

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.