Stifel Financial Corp Sells 545 Shares of Crown Holdings, Inc. (NYSE:CCK)

Stifel Financial Corp reduced its position in Crown Holdings, Inc. (NYSE:CCK) by 2.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,401 shares of the industrial products company’s stock after selling 545 shares during the period. Stifel Financial Corp’s holdings in Crown were worth $1,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CCK. SYM FINANCIAL Corp bought a new position in shares of Crown during the third quarter valued at about $239,000. Quadrature Capital Ltd increased its stake in shares of Crown by 26.6% in the third quarter. Quadrature Capital Ltd now owns 12,914 shares of the industrial products company’s stock worth $1,238,000 after purchasing an additional 2,716 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Crown by 128.2% during the 3rd quarter. Quantinno Capital Management LP now owns 26,999 shares of the industrial products company’s stock worth $2,589,000 after acquiring an additional 15,170 shares in the last quarter. Reynders McVeigh Capital Management LLC boosted its stake in shares of Crown by 2.2% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 300,745 shares of the industrial products company’s stock worth $28,835,000 after purchasing an additional 6,350 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Crown during the third quarter valued at approximately $425,000. 90.93% of the stock is currently owned by institutional investors.

Crown Stock Performance

CCK stock opened at $83.05 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The stock’s 50 day simple moving average is $91.62 and its 200 day simple moving average is $87.46. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46. The firm has a market cap of $9.94 billion, a P/E ratio of 102.53, a P/E/G ratio of 1.95 and a beta of 0.83.

Crown (NYSE:CCK) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, equities research analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.20%. Crown’s payout ratio is 123.46%.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the sale, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the company’s 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 completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,006 shares of company stock valued at $2,478,049 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CCK. Loop Capital upped their price objective on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Mizuho set a $110.00 target price on shares of Crown in a research note on Friday, October 18th. Morgan Stanley boosted their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company upped their price objective on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Three 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.com, Crown currently has an average rating of “Moderate Buy” and a consensus target price of $106.62.

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.