OFI Invest Asset Management Purchases 240 Shares of Crown Holdings, Inc. (NYSE:CCK)

OFI Invest Asset Management raised its position in Crown Holdings, Inc. (NYSE:CCK) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,267 shares of the industrial products company’s stock after purchasing an additional 240 shares during the quarter. OFI Invest Asset Management’s holdings in Crown were worth $782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its position in Crown by 14.0% in the fourth quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock worth $109,000 after buying an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Crown by 5.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock worth $282,000 after buying an additional 154 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Crown by 6.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock worth $227,000 after buying an additional 160 shares during the last quarter. Verdence Capital Advisors LLC increased its position in Crown by 3.7% in the first quarter. Verdence Capital Advisors LLC now owns 5,348 shares of the industrial products company’s stock worth $424,000 after buying an additional 193 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in Crown by 1.0% in the second quarter. Gulf International Bank UK Ltd now owns 25,870 shares of the industrial products company’s stock worth $1,924,000 after buying an additional 258 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Up 0.1 %

NYSE:CCK traded up $0.09 on Friday, reaching $87.97. 495,387 shares of the stock traded hands, compared to its average volume of 1,148,383. The company’s fifty day simple moving average is $80.19 and its 200 day simple moving average is $79.78. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 2.09 and a beta of 0.85. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $94.49. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Equities analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, August 15th. Crown’s dividend payout ratio is currently 28.82%.

Insiders Place Their Bets

In other Crown news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the transaction, the director now directly owns 12,884 shares in the company, valued at approximately $1,068,470.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director James H. Miller sold 9,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the sale, the director now directly owns 12,884 shares in the company, valued at approximately $1,068,470.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the 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 sale, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,500 shares of company stock worth $2,665,695. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com cut Crown from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Royal Bank of Canada boosted their target price on Crown from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Loop Capital boosted their target price on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their target price on Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Citigroup boosted their target price on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.21.

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.