Wilmington Savings Fund Society FSB Acquires 5,397 Shares of Crown Holdings, Inc. (NYSE:CCK)

Wilmington Savings Fund Society FSB lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 48.3% in the third quarter, Holdings Channel.com reports. The fund owned 16,575 shares of the industrial products company’s stock after purchasing an additional 5,397 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Crown were worth $1,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC boosted its position in Crown by 57.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,936 shares of the industrial products company’s stock valued at $829,000 after acquiring an additional 3,264 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Crown in the 3rd quarter valued at approximately $861,000. Toronto Dominion Bank boosted its position in shares of Crown by 32.9% during the third quarter. Toronto Dominion Bank now owns 15,363 shares of the industrial products company’s stock valued at $1,473,000 after purchasing an additional 3,806 shares in the last quarter. Geode Capital Management LLC grew its stake in Crown by 4.2% in the third quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company’s stock worth $197,242,000 after purchasing an additional 82,764 shares during the period. Finally, M&T Bank Corp raised its holdings in Crown by 3.8% in the third quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Mizuho set a $110.00 target price on shares of Crown in a report on Friday, October 18th. 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. Barclays upped their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Truist Financial lifted their price objective on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Three 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 has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the sale, the chief executive officer now owns 571,178 shares of the company’s stock, valued at $53,119,554. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,006 shares of company stock worth $2,478,049. 0.90% of the stock is owned by insiders.

Crown Stock Down 0.2 %

Crown stock opened at $87.88 on Friday. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The stock has a fifty day simple moving average of $92.45 and a two-hundred day simple moving average of $87.47. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 108.49, a PEG ratio of 1.95 and a beta of 0.83.

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

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. Crown’s dividend payout ratio (DPR) is 123.46%.

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.