Cerity Partners LLC Buys 31,164 Shares of Crown Holdings, Inc. (NYSE:CCK)

Cerity Partners LLC increased its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 369.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,610 shares of the industrial products company's stock after purchasing an additional 31,164 shares during the period. Cerity Partners LLC's holdings in Crown were worth $3,798,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CCK. GAMMA Investing LLC increased its stake in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company's stock worth $30,000 after purchasing an additional 163 shares during the period. Covestor Ltd increased its stake in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company's stock worth $44,000 after buying an additional 277 shares during the period. Blue Trust Inc. raised its holdings in Crown by 172.6% during the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company's stock valued at $48,000 after buying an additional 385 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Crown during the 3rd quarter valued at $48,000. Finally, Fifth Third Bancorp grew its holdings in Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company's stock worth $49,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Insider Activity at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the company's 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 completion of the sale, the chief operating officer now owns 114,402 shares of the company's stock, valued at $10,970,007.78. This represents a 8.04 % 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. Insiders sold 33,506 shares of company stock valued at $3,157,399 over the last 90 days. Corporate insiders own 0.90% of the company's stock.

Crown Stock Down 1.0 %

Shares of Crown stock traded down $0.93 during midday trading on Friday, hitting $92.09. The company had a trading volume of 420,081 shares, compared to its average volume of 1,125,171. The company has a 50 day moving average of $93.53 and a 200 day moving average of $87.10. The stock has a market capitalization of $11.02 billion, a P/E ratio of 113.69, a P/E/G ratio of 2.06 and a beta of 0.85. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week 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.

Crown (NYSE:CCK - Get Free Report) last issued 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 firm 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%. On average, equities analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Thursday, November 14th. Crown's payout ratio is 123.46%.

Analyst Ratings Changes

CCK has been the subject of several recent analyst reports. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Robert W. Baird upped their price target on Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Truist Financial lifted their price objective on Crown from $95.00 to $103.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. Morgan Stanley upped their target price on Crown from $105.00 to $109.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Crown from $97.00 to $105.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.