Point72 Hong Kong Ltd Purchases 28,294 Shares of Crown Holdings, Inc. (NYSE:CCK)

Point72 Hong Kong Ltd boosted its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 3,568.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,087 shares of the industrial products company’s stock after purchasing an additional 28,294 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Crown were worth $2,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CCK. Nisa Investment Advisors LLC boosted its holdings in Crown by 6.1% during the second 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 during the last quarter. GAMMA Investing LLC increased its position in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. Fifth Third Bancorp raised its stake in Crown by 36.1% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after buying an additional 176 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Crown by 2.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after acquiring an additional 183 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 209 shares during the period. Institutional investors own 90.93% of the company’s stock.

Crown Trading Down 1.0 %

Shares of NYSE:CCK opened at $92.09 on Monday. The stock has a market capitalization of $11.02 billion, a PE ratio of 113.69, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85. The company’s 50-day moving average price is $93.53 and its two-hundred day moving average price is $87.13. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. On average, equities analysts forecast that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Crown’s dividend payout ratio is presently 123.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCK. Robert W. Baird lifted their price objective on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Citigroup raised their target price on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price target on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Barclays raised their price objective on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at $52,416,653.24. The trade was a 1.28 % 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 company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,506 shares of company stock worth $3,157,399. Insiders own 0.90% of the company’s stock.

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.