Bank of New York Mellon Corp Increases Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Bank of New York Mellon Corp raised its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,208,711 shares of the industrial products company's stock after purchasing an additional 46,871 shares during the period. Bank of New York Mellon Corp owned approximately 1.00% of Crown worth $89,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CCK. Rise Advisors LLC purchased a new stake in shares of Crown during the first quarter valued at $27,000. Quest Partners LLC purchased a new stake in shares of Crown during the 4th quarter valued at about $34,000. Mather Group LLC. bought a new stake in shares of Crown in the first quarter worth approximately $32,000. Quarry LP raised its holdings in shares of Crown by 190.3% during the fourth quarter. Quarry LP now owns 421 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 276 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Crown during the first quarter valued at approximately $41,000. Institutional investors own 90.93% of the company's stock.

Crown Price Performance

Shares of CCK traded down $0.15 during trading hours on Thursday, reaching $89.15. 1,190,122 shares of the stock traded hands, compared to its average volume of 1,135,426. The company has a market cap of $10.77 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 2.09 and a beta of 0.85. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The company's 50-day moving average price is $82.10 and its two-hundred day moving average price is $80.25. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $94.49.

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

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Thursday, August 15th. Crown's payout ratio is currently 28.82%.

Analyst Ratings Changes

A number of research firms have commented on CCK. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research report on Wednesday, August 21st. UBS Group reduced their price objective on Crown from $112.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada raised their target price on Crown from $96.00 to $105.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Bank of America boosted their price target on Crown from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Finally, Truist Financial raised their price objective on shares of Crown from $88.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Crown presently has an average rating of "Moderate Buy" and a consensus target price of $100.21.

Insider Transactions at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the sale, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Timothy J. Donahue sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares of the company's stock, valued at approximately $50,323,381.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James H. Miller sold 9,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 12,884 shares of the company's stock, valued at $1,068,470.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,500 shares of company stock valued at $2,665,695. 0.90% of the stock is currently owned by corporate insiders.

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.