Sei Investments Co. Has $9.10 Million Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Sei Investments Co. raised its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 139.2% in the second quarter, HoldingsChannel.com reports. The firm owned 122,380 shares of the industrial products company’s stock after purchasing an additional 71,227 shares during the quarter. Sei Investments Co.’s holdings in Crown were worth $9,104,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CCK. Vanguard Group Inc. increased its position 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 buying an additional 176,639 shares during the period. William Blair Investment Management LLC boosted its position in Crown by 2.0% during the first quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock valued at $224,020,000 after acquiring an additional 56,604 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Crown by 28.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,566,163 shares of the industrial products company’s stock worth $124,134,000 after acquiring an additional 351,545 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Crown in the 1st quarter worth about $119,167,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Crown by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock valued at $109,504,000 after purchasing an additional 79,502 shares during the period. Institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

Shares of CCK opened at $94.74 on Friday. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $96.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The stock has a 50 day moving average price of $89.21 and a two-hundred day moving average price of $82.71. The firm has a market capitalization of $11.44 billion, a P/E ratio of 27.30, a P/E/G ratio of 2.26 and a beta of 0.85.

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

Crown Dividend Announcement

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 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Insider Buying and Selling

In other Crown news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the transaction, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction dated 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 sale, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,006 shares of company stock worth $2,694,849. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CCK has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Crown in a research note on Tuesday, September 24th. Barclays lifted their price objective on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Company increased their target price on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Loop Capital lifted their price target on shares of Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley upped their price objective on shares of Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.14.

Crown Company 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.