Entropy Technologies LP Sells 5,962 Shares of Crown Holdings, Inc. (NYSE:CCK)

Entropy Technologies LP trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 58.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,245 shares of the industrial products company's stock after selling 5,962 shares during the period. Entropy Technologies LP's holdings in Crown were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new position in shares of Crown during the third quarter valued at approximately $613,000. Jensen Investment Management Inc. increased its holdings 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 valued at $9,676,000 after buying an additional 7,280 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Crown by 17.1% during the third quarter. Crossmark Global Holdings Inc. now owns 10,766 shares of the industrial products company's stock valued at $1,032,000 after buying an additional 1,573 shares during the last quarter. Covestor Ltd increased its holdings in Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company's stock valued at $44,000 after buying an additional 277 shares during the last quarter. Finally, RKL Wealth Management LLC purchased a new stake in Crown during the third quarter valued at approximately $208,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on 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 transaction, the chief operating officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares of the company's stock, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,506 shares of company stock worth $3,157,399. 0.90% of the stock is owned by insiders.

Crown Price Performance

Shares of NYSE:CCK traded down $0.20 during midday trading on Friday, reaching $89.86. 1,726,879 shares of the company were exchanged, compared to its average volume of 1,123,776. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The business's fifty day moving average is $93.58 and its two-hundred day moving average is $86.52. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The stock has a market cap of $10.75 billion, a PE ratio of 110.91, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share 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 during the quarter, compared to analyst estimates of $3.07 billion. As a group, analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCK. 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. Mizuho set a $110.00 target price on shares of Crown in a report on Friday, October 18th. Citigroup upped their target price on shares of Crown from $100.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Royal Bank of Canada increased their price objective on shares of Crown from $105.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Crown from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research note 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $106.62.

Crown 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.