Crown Holdings, Inc. (NYSE:CCK) Stake Reduced by Marshall & Sullivan Inc. WA

Marshall & Sullivan Inc. WA trimmed its stake in Crown Holdings, Inc. (NYSE:CCK) by 1.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 57,113 shares of the industrial products company’s stock after selling 674 shares during the quarter. Crown makes up about 2.6% of Marshall & Sullivan Inc. WA’s investment portfolio, making the stock its 17th largest holding. Marshall & Sullivan Inc. WA’s holdings in Crown were worth $5,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CCK. Nisa Investment Advisors LLC grew its holdings in Crown by 6.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after buying an additional 158 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Crown by 36.1% in the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 176 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 209 shares during the period. Finally, OFI Invest Asset Management raised its stake in shares of Crown by 2.2% during the second quarter. OFI Invest Asset Management now owns 11,267 shares of the industrial products company’s stock valued at $782,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Trading Up 1.3 %

NYSE:CCK opened at $92.79 on Friday. The stock has a fifty day simple moving average of $90.76 and a 200 day simple moving average of $83.81. 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 firm has a market capitalization of $11.19 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $96.74.

Crown (NYSE:CCK) last released its 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. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. Sell-side analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. Crown’s payout ratio is currently 27.70%.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was 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 directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Timothy J. Donahue sold 15,000 shares of the business’s 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 directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the transaction, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,506 shares of company stock valued at $3,392,349 over the last quarter. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CCK. Citigroup increased their target price on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. StockNews.com cut Crown from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Morgan Stanley increased their price target on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Finally, UBS Group dropped their price objective on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.86.

About Crown

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.