Los Angeles Capital Management LLC Invests $613,000 in Crown Holdings, Inc. (NYSE:CCK)

Los Angeles Capital Management LLC purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,395 shares of the industrial products company's stock, valued at approximately $613,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Crown by 110.9% in the third 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 in the last quarter. EntryPoint Capital LLC bought a new position in shares of Crown in the 1st quarter valued at about $41,000. Covestor Ltd increased its position in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 277 shares during the last quarter. Blue Trust Inc. increased its position in shares of Crown by 172.6% in the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company's stock valued at $48,000 after acquiring an additional 385 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Crown during the third quarter worth about $48,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCK has been the topic of several recent analyst reports. Barclays boosted their price target on Crown from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Loop Capital lifted their price objective on shares of Crown from $120.00 to $129.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Mizuho set a $110.00 target price on shares of Crown in a report on Friday, October 18th. Robert W. Baird lifted their price target on Crown from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Finally, Bank of America boosted their target price on Crown from $98.00 to $102.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.62.

Crown Price Performance

Shares of CCK stock traded down $0.20 during trading on Friday, hitting $89.86. The company had a trading volume of 1,726,879 shares, compared to its average volume of 1,059,261. The firm has a market capitalization of $10.75 billion, a P/E ratio of 110.94, a price-to-earnings-growth ratio of 1.99 and a beta of 0.85. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The stock's 50-day moving average price is $93.58 and its 200 day moving average price is $86.58.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Equities analysts expect that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, November 14th. Crown's payout ratio is presently 123.46%.

Insider Transactions at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the business's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the transaction, the chief executive officer now directly owns 578,678 shares of the company's stock, valued at approximately $52,416,653.24. The trade was a 1.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,506 shares of company stock valued at $3,157,399. Company insiders own 0.90% of the company's stock.

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.