UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Position in Crown Holdings, Inc. (NYSE:CCK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 461,654 shares of the industrial products company's stock after selling 26,427 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.39% of Crown worth $44,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in Crown by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company's stock valued at $23,878,000 after acquiring an additional 10,295 shares in the last quarter. Sei Investments Co. grew its stake in Crown by 139.2% during the 2nd quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company's stock worth $9,104,000 after buying an additional 71,227 shares during the last quarter. Jensen Investment Management Inc. increased its position in Crown by 7.8% during the third quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company's stock worth $9,676,000 after buying an additional 7,280 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Crown by 62.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company's stock worth $1,722,000 after buying an additional 8,857 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Crown by 7.8% in the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company's stock valued at $544,301,000 after buying an additional 412,973 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CCK. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a report on Saturday, October 26th. Morgan Stanley upped their target price on shares of Crown from $105.00 to $109.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Citigroup increased their target price on shares of Crown from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. Mizuho set a $110.00 price target on Crown in a research report on Friday, October 18th. Finally, Wells Fargo & Company increased their price objective on Crown from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.62.

Crown Price Performance

Crown stock traded up $0.31 during midday trading on Wednesday, reaching $92.32. The company's stock had a trading volume of 627,089 shares, compared to its average volume of 1,119,600. 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 Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The firm has a market capitalization of $11.04 billion, a PE ratio of 113.61, a P/E/G ratio of 2.05 and a beta of 0.84. The stock's 50 day simple moving average is $93.40 and its 200 day simple moving average is $87.24.

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

Crown Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, November 14th. Crown's dividend payout ratio (DPR) is 123.46%.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the 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 sale, the chief operating officer now owns 114,402 shares in the company, valued at approximately $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 can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the business's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the transaction, the chief executive officer now directly owns 578,678 shares of the company's stock, valued at approximately $52,416,653.24. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock worth $3,157,399 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Crown Company 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.