ING Groep NV Buys Shares of 19,900 Crown Holdings, Inc. (NYSE:CCK)

ING Groep NV purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,900 shares of the industrial products company's stock, valued at approximately $1,908,000.

Several other large investors have also recently made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Crown by 6.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,539 shares of the industrial products company's stock valued at $339,000 after purchasing an additional 223 shares during the last quarter. Metis Global Partners LLC purchased a new stake in Crown during the third quarter valued at about $494,000. Victory Capital Management Inc. grew its stake in shares of Crown by 7.8% during 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. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of 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 worth $23,878,000 after buying an additional 10,295 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Crown in the 3rd quarter valued at about $613,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CCK shares. Morgan Stanley lifted their price target on Crown from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Bank of America increased their price target on shares of Crown from $98.00 to $102.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Truist Financial boosted their price objective on shares of Crown from $95.00 to $103.00 and gave the company a "hold" rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird increased their target price on shares of Crown from $100.00 to $110.00 and gave the stock an "outperform" rating in a 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $106.62.

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 33,506 shares of company stock worth $3,157,399. Insiders own 0.90% of the company's stock.

Crown Stock Down 0.2 %

Shares of NYSE CCK traded down $0.20 during mid-day trading on Friday, hitting $89.86. 1,726,879 shares of the stock traded hands, compared to its average volume of 1,059,261. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 110.94, a PEG ratio of 1.99 and a beta of 0.85. The stock has a fifty day moving average price of $93.58 and a 200-day moving average price of $86.58. 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 announced its earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.81 by $0.18. The firm had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Research analysts anticipate that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Announces Dividend

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

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.