Private Management Group Inc. Cuts Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Private Management Group Inc. lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,244 shares of the industrial products company’s stock after selling 492 shares during the quarter. Private Management Group Inc. owned approximately 0.25% of Crown worth $28,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 163 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Crown in the 1st quarter worth $41,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Crown during the third quarter valued at about $55,000. Blue Trust Inc. boosted its holdings in shares of Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 385 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Crown by 36.1% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 176 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 586,178 shares in the company, valued at $50,323,381.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock valued at $3,075,799 over the last three months. 0.90% of the stock is owned by company insiders.

Crown Price Performance

Shares of CCK stock traded up $0.21 on Friday, reaching $93.76. The company’s stock had a trading volume of 793,525 shares, compared to its average volume of 1,124,589. The stock’s fifty day simple moving average is $93.06 and its 200-day simple moving average is $85.54. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 115.75, a price-to-earnings-growth ratio of 2.13 and a beta of 0.86.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. Crown’s dividend payout ratio is presently 123.46%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CCK. Robert W. Baird lifted their price target on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. UBS Group decreased their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley upped their price objective on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Wells Fargo & Company lifted their target price on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Bank of America raised their price objective on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

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.