Tensile Capital Management LP Lowers Stake in Crown Holdings, Inc. (NYSE:CCK)

Tensile Capital Management LP cut its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 615,074 shares of the industrial products company's stock after selling 93,000 shares during the period. Crown accounts for approximately 6.4% of Tensile Capital Management LP's portfolio, making the stock its 7th largest holding. Tensile Capital Management LP owned approximately 0.51% of Crown worth $58,973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CCK. Mather Group LLC. raised its stake in Crown by 150.0% in the second quarter. Mather Group LLC. now owns 1,000 shares of the industrial products company's stock valued at $79,000 after purchasing an additional 600 shares in the last quarter. CWM LLC raised its position in shares of Crown by 167.1% during the 2nd quarter. CWM LLC now owns 4,612 shares of the industrial products company's stock valued at $343,000 after buying an additional 2,885 shares in the last quarter. MJP Associates Inc. ADV lifted its holdings in shares of Crown by 14.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 12,566 shares of the industrial products company's stock worth $935,000 after acquiring an additional 1,615 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Crown by 15.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,156 shares of the industrial products company's stock worth $532,000 after acquiring an additional 931 shares in the last quarter. Finally, Swedbank AB increased its stake in Crown by 1.7% in the second quarter. Swedbank AB now owns 143,502 shares of the industrial products company's stock valued at $10,675,000 after acquiring an additional 2,371 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Stock Down 1.3 %

CCK traded down $1.16 on Friday, hitting $88.40. The company had a trading volume of 724,302 shares, compared to its average volume of 1,126,699. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46. The stock has a fifty day simple moving average of $93.23 and a 200-day simple moving average of $87.29. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The firm has a market capitalization of $10.58 billion, a P/E ratio of 110.57, a P/E/G ratio of 2.04 and a beta of 0.83.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The company 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%. As a group, equities analysts expect that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, November 14th. Crown's dividend payout ratio (DPR) is presently 123.46%.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares of the company's stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,006 shares of company stock worth $2,478,049. Insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup upped their price objective on Crown from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price target on shares of Crown from $105.00 to $109.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Loop Capital upped their price objective on shares of Crown from $120.00 to $129.00 and gave the company a "buy" rating in a research note on Monday, October 21st. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Finally, Mizuho set a $110.00 price target on shares of Crown in a report on Friday, October 18th. Three 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, Crown currently has a consensus rating of "Moderate Buy" and an average target price of $106.62.

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.