State of New Jersey Common Pension Fund D Sells 20,494 Shares of Crown Holdings, Inc. (NYSE:CCK)

State of New Jersey Common Pension Fund D lowered its holdings in Crown Holdings, Inc. (NYSE:CCK) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,806 shares of the industrial products company’s stock after selling 20,494 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Crown were worth $3,184,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CCK. 1832 Asset Management L.P. bought a new stake in shares of Crown in the 1st quarter valued at about $119,167,000. Norges Bank bought a new position in shares of Crown during the 4th quarter worth approximately $109,826,000. Clearbridge Investments LLC raised its stake in shares of Crown by 474.8% during the 4th quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock worth $111,854,000 after acquiring an additional 1,003,312 shares in the last quarter. Metropolis Capital Ltd bought a new position in shares of Crown during the 2nd quarter worth approximately $29,291,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Crown during the 1st quarter worth approximately $29,981,000. Institutional investors own 90.93% of the company’s stock.

Crown Stock Down 0.3 %

CCK stock opened at $92.23 on Wednesday. The firm’s fifty day simple moving average is $86.27 and its 200-day simple moving average is $81.79. The company has a market capitalization of $11.14 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $93.79.

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

Crown Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on CCK shares. Truist Financial boosted their price objective on shares of Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley boosted their price objective on shares of Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. UBS Group reduced their price objective on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Bank of America boosted their target price 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. Finally, StockNews.com downgraded shares of Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $101.14.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,000 shares of company stock valued at $2,598,675. Corporate insiders own 0.90% of the company’s stock.

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.