Metropolis Capital Ltd Grows Position in Crown Holdings, Inc. (NYSE:CCK)

Metropolis Capital Ltd boosted its stake in Crown Holdings, Inc. (NYSE:CCK) by 269.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,455,752 shares of the industrial products company’s stock after buying an additional 1,062,001 shares during the quarter. Crown makes up 4.8% of Metropolis Capital Ltd’s investment portfolio, making the stock its 11th largest holding. Metropolis Capital Ltd owned 1.21% of Crown worth $139,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Crown by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock valued at $951,306,000 after purchasing an additional 176,639 shares during the period. Sessa Capital IM L.P. grew its stake in Crown by 153.0% in the 2nd 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. William Blair Investment Management LLC grew its stake in Crown by 2.0% in the 1st 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 purchasing an additional 56,604 shares during the period. 1832 Asset Management L.P. grew its stake in Crown by 31.5% in the 2nd 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 purchasing an additional 473,000 shares during the period. Finally, Clearbridge Investments LLC grew its stake in Crown by 7.1% in the 2nd quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock valued at $124,808,000 after purchasing an additional 111,589 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Loop Capital increased their price target on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday. Barclays increased their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America increased their price target on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their target price on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the transaction, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,506 shares of company stock valued at $2,116,899. Corporate insiders own 0.90% of the company’s stock.

Crown Stock Performance

NYSE:CCK opened at $96.16 on Wednesday. The business’s 50-day moving average price is $92.07 and its two-hundred day moving average price is $84.72. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46. The stock has a market cap of $11.61 billion, a P/E ratio of 27.71, a PEG ratio of 2.19 and a beta of 0.86. 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 announced its quarterly earnings data 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 analysts’ expectations of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.68 EPS. As a group, equities analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed 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 dividend yield of 1.04%. Crown’s dividend payout ratio is 28.82%.

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.