Neo Ivy Capital Management Takes $110,000 Position in Crown Holdings, Inc. (NYSE:CCK)

Neo Ivy Capital Management acquired a new stake in Crown Holdings, Inc. (NYSE:CCK) in the second quarter, HoldingsChannel.com reports. The fund acquired 1,484 shares of the industrial products company’s stock, valued at approximately $110,000.

Other hedge funds also recently bought and sold shares of the company. 1832 Asset Management L.P. purchased a new position in Crown during the first quarter worth about $119,167,000. Norges Bank acquired a new stake in shares of Crown during the fourth quarter worth about $109,826,000. Clearbridge Investments LLC grew its holdings in shares of Crown by 474.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock valued at $111,854,000 after purchasing an additional 1,003,312 shares in the last quarter. Boston Partners purchased a new stake in Crown during the 4th quarter worth approximately $84,960,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Crown during the 1st quarter worth approximately $29,981,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Trading Down 1.4 %

Shares of NYSE:CCK traded down $1.25 during trading on Tuesday, reaching $87.88. The stock had a trading volume of 144,418 shares, compared to its average volume of 1,141,471. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The stock has a market cap of $10.61 billion, a P/E ratio of 25.34, a PEG ratio of 2.09 and a beta of 0.85. The business has a fifty day moving average price of $80.32 and a 200-day moving average price of $79.71. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $94.49.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating 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 company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm posted $1.68 EPS. Crown’s revenue was down 2.2% on a year-over-year basis. As a group, analysts anticipate that Crown Holdings, Inc. will post 6.15 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, August 15th. Crown’s payout ratio is 28.82%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Crown news, Director James H. Miller sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The disclosure for this sale can be found here. Insiders sold 31,500 shares of company stock worth $2,665,695 in the last 90 days. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CCK shares. UBS Group decreased their target price on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Loop Capital upped their price objective on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird raised their target price on Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Morgan Stanley upped their price target on Crown from $89.00 to $92.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their price objective on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.