State of Alaska Department of Revenue acquired a new position in Crown Holdings, Inc. (NYSE:CCK – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,885 shares of the industrial products company’s stock, valued at approximately $1,293,000.
Other large investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Crown by 101.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 438 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 221 shares during the period. Quarry LP acquired a new position in Crown during the 1st quarter valued at about $58,000. Ameritas Advisory Services LLC bought a new stake in shares of Crown during the 1st quarter worth about $91,000. Fairfield Bush & CO. acquired a new stake in shares of Crown in the 1st quarter worth approximately $143,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Crown by 101.0% in the first quarter. Captrust Financial Advisors now owns 1,166 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 586 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.
Crown Stock Performance
CCK stock opened at $79.36 on Friday. The stock has a market cap of $9.57 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.71 and a beta of 1.10. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.76 and a current ratio of 1.30. The firm has a 50 day simple moving average of $88.37 and a 200 day simple moving average of $85.77. Crown Holdings, Inc. has a 52 week low of $66.00 and a 52 week high of $96.35.
Crown Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, August 9th. Crown’s dividend payout ratio (DPR) is presently 24.24%.
Insider Transactions at Crown
In other news, COO Gerard H. Gifford sold 9,784 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $92.24, for a total transaction of $902,476.16. Following the completion of the sale, the chief operating officer now directly owns 123,399 shares of the company’s stock, valued at approximately $11,382,323.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Christy L. Kalaus sold 1,914 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $90.67, for a total transaction of $173,542.38. Following the transaction, the vice president now owns 7,500 shares in the company, valued at approximately $680,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gerard H. Gifford sold 9,784 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $92.24, for a total transaction of $902,476.16. Following the transaction, the chief operating officer now owns 123,399 shares in the company, valued at approximately $11,382,323.76. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on CCK. Barclays increased their price target on Crown from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. StockNews.com raised Crown from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Loop Capital upped their price target on shares of Crown from $112.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Bank of America lowered their price objective on shares of Crown from $106.00 to $101.00 in a research note on Monday, July 10th. Finally, Royal Bank of Canada increased their target price on shares of Crown from $97.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average price target of $102.88.
Read Our Latest Stock Report on CCK
About Crown
Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.
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