Crown Holdings, Inc. (NYSE:CCK) Stake Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,261 shares of the industrial products company's stock after selling 3,054 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Crown worth $10,955,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CCK. Rise Advisors LLC acquired a new stake in shares of Crown in the 1st quarter valued at $27,000. Mather Group LLC. purchased a new stake in Crown during the 1st quarter worth about $32,000. Quest Partners LLC acquired a new position in shares of Crown during the 4th quarter worth about $34,000. Quarry LP increased its holdings in shares of Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 276 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Crown during the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the business's stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the sale, the chief executive officer now directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares of the company's stock, valued at $50,480,440.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James H. Miller sold 9,000 shares of Crown stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, the director now owns 12,884 shares of the company's stock, valued at $1,068,470.12. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock valued at $2,665,695 over the last quarter. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CCK. Bank of America upped their price target on Crown from $98.00 to $102.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Loop Capital increased their target price on shares of Crown from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of Crown from $85.00 to $88.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 24th. Robert W. Baird raised their price objective on Crown from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, May 1st. Finally, Citigroup upped their target price on Crown from $94.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.21.

Crown Stock Performance

CCK traded down $0.20 during trading on Friday, hitting $89.55. The stock had a trading volume of 1,229,766 shares, compared to its average volume of 1,139,796. The firm has a market capitalization of $10.81 billion, a P/E ratio of 25.81, a PEG ratio of 2.09 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $94.49. The company's 50-day moving average price is $81.09 and its 200 day moving average price is $79.87.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.22. The firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 earnings per share. On average, equities research analysts forecast that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Crown's dividend payout ratio (DPR) is presently 28.82%.

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.