MBB Public Markets I LLC Acquires New Holdings in Crown Holdings, Inc. (NYSE:CCK)

MBB Public Markets I LLC bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,615 shares of the industrial products company’s stock, valued at approximately $641,000.

Several other institutional investors also recently modified their holdings of CCK. Rise Advisors LLC acquired a new position in Crown in the 1st quarter worth about $27,000. Mather Group LLC. acquired a new position in shares of Crown in the first quarter valued at approximately $32,000. Quarry LP raised its holdings in Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Crown during the 1st quarter worth approximately $41,000. Finally, Trivant Custom Portfolio Group LLC acquired a new position in Crown in the 1st quarter valued at approximately $43,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CCK shares. Bank of America upped their price target on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Citigroup increased their target price on shares of Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Barclays boosted their price target on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Loop Capital lifted their target price on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley boosted their target price on shares of Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average target price of $101.14.

Crown Stock Down 0.2 %

Shares of NYSE:CCK opened at $95.72 on Wednesday. The business’s 50 day moving average is $89.58 and its 200 day moving average is $82.91. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.74. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.26 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

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

Crown Announces Dividend

The firm 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. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. Crown’s dividend payout ratio (DPR) is currently 28.82%.

Insiders Place Their Bets

In other news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,187,734.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Crown news, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of 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 quarter, insiders have sold 31,006 shares of company stock valued at $2,694,849. 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.