Amalgamated Bank Sells 17,675 Shares of Crown Holdings, Inc. (NYSE:CCK)

Amalgamated Bank trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 23.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,709 shares of the industrial products company’s stock after selling 17,675 shares during the period. Amalgamated Bank’s holdings in Crown were worth $5,437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings 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 acquiring an additional 163 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown during the third quarter worth $48,000. EntryPoint Capital LLC acquired a new stake in shares of Crown during the first quarter worth $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Crown during the third quarter worth $55,000. Finally, Blue Trust Inc. raised its holdings in shares of Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 385 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Stock Down 1.2 %

Crown stock opened at $92.90 on Friday. The firm has a market capitalization of $11.11 billion, a PE ratio of 114.69, a P/E/G ratio of 2.06 and a beta of 0.85. The company’s 50-day moving average is $93.37 and its 200-day moving average is $86.00. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s payout ratio is 123.46%.

Wall Street Analyst Weigh In

CCK has been the topic of a number of research analyst reports. Mizuho set a $110.00 price objective on shares of Crown in a report on Friday, October 18th. Truist Financial lifted their price target on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Robert W. Baird lifted their price target on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Royal Bank of Canada lifted their price target on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Bank of America lifted their price target on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Crown news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,506 shares of company stock valued at $3,157,399. Company insiders own 0.90% of the company’s stock.

About Crown

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.