Franklin Resources Inc. Raises Position in Crown Holdings, Inc. (NYSE:CCK)

Franklin Resources Inc. raised its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 941,033 shares of the industrial products company's stock after purchasing an additional 32,909 shares during the quarter. Franklin Resources Inc. owned about 0.79% of Crown worth $87,949,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CCK. GAMMA Investing LLC increased its position in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 163 shares during the period. Covestor Ltd grew its position in Crown by 156.5% in the 3rd 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. Brooklyn Investment Group purchased a new position in Crown during the 3rd quarter worth $44,000. Blue Trust Inc. lifted its stake in shares of Crown by 172.6% in the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company's stock worth $48,000 after acquiring an additional 385 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Crown during the third quarter worth about $48,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Crown Trading Down 1.5 %

NYSE:CCK traded down $1.36 on Monday, reaching $86.52. The stock had a trading volume of 872,415 shares, compared to its average volume of 1,135,971. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 106.81, a P/E/G ratio of 1.95 and a beta of 0.83. The firm's fifty day moving average is $92.34 and its two-hundred day moving average is $87.53. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84.

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

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.16%. Crown's payout ratio is currently 123.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CCK. Truist Financial lifted their price objective on Crown from $95.00 to $103.00 and gave the company a "hold" rating in a report on Tuesday, October 15th. Robert W. Baird increased their price objective on Crown from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, October 21st. Wells Fargo & Company upped their price target 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. Morgan Stanley raised their price objective on shares of Crown from $105.00 to $109.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada increased their target price on shares of Crown from $105.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Three investment 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 currently has an average rating of "Moderate Buy" and a consensus price target 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.