Crown Holdings, Inc. (NYSE:CCK) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. raised its stake in Crown Holdings, Inc. (NYSE:CCK) by 31.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,976,500 shares of the industrial products company’s stock after acquiring an additional 473,000 shares during the period. 1832 Asset Management L.P. owned 1.64% of Crown worth $147,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its stake in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 158 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Crown by 6.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 160 shares during the period. Fifth Third Bancorp boosted its stake in Crown by 36.1% in the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 176 shares during the period. Verdence Capital Advisors LLC boosted its stake in Crown by 3.7% in the first quarter. Verdence Capital Advisors LLC now owns 5,348 shares of the industrial products company’s stock valued at $424,000 after acquiring an additional 193 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 209 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Price Performance

NYSE CCK opened at $93.70 on Friday. The stock has a market capitalization of $11.31 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.13 and a beta of 0.85. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $94.46. The business’s fifty day moving average is $87.43 and its two-hundred day moving average is $82.13. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05.

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

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. Crown’s dividend payout ratio is currently 28.82%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 15,000 shares of the business’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 sale, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,000 shares of company stock valued at $2,598,675. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CCK. Truist Financial boosted their price objective on Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on Crown from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. UBS Group reduced their price objective on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley boosted their price objective on Crown from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company boosted their price objective on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.14.

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.