CWA Asset Management Group LLC Invests $1.05 Million in Crown Holdings, Inc. (NYSE:CCK)

CWA Asset Management Group LLC bought a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 12,706 shares of the industrial products company’s stock, valued at approximately $1,051,000.

Several other institutional investors and hedge funds have also bought and sold shares of CCK. Sessa Capital IM L.P. raised its holdings in shares of Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after purchasing an additional 1,989,374 shares during the period. Metropolis Capital Ltd raised its stake in Crown by 269.7% during the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after buying an additional 1,062,001 shares during the period. Jennison Associates LLC grew its stake in Crown by 125.0% in the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after acquiring an additional 751,530 shares during the period. FMR LLC grew its stake in Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after acquiring an additional 749,085 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in shares of Crown by 31.5% during the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock valued at $147,032,000 after acquiring an additional 473,000 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Insider Activity at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Crown Stock Performance

NYSE CCK opened at $80.27 on Wednesday. The company has a market capitalization of $9.60 billion, a PE ratio of 99.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46. The company has a 50-day simple moving average of $88.54 and a 200 day simple moving average of $87.79.

Crown (NYSE:CCK) last posted its quarterly earnings results 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 net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. On average, research analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Analysts Set New Price Targets

CCK has been the subject of several research reports. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Bank of America decreased their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday. Truist Financial raised their price target on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday. Morgan Stanley boosted their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada raised their target price on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.62.

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.