BW Gestao de Investimentos Ltda. Grows Stake in Crown Holdings, Inc. (NYSE:CCK)

BW Gestao de Investimentos Ltda. boosted its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 99.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 291,801 shares of the industrial products company's stock after purchasing an additional 145,286 shares during the quarter. Crown makes up 1.2% of BW Gestao de Investimentos Ltda.'s portfolio, making the stock its 13th biggest position. BW Gestao de Investimentos Ltda. owned approximately 0.24% of Crown worth $21,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CCK. 1832 Asset Management L.P. bought a new position in shares of Crown in the 1st quarter worth about $119,167,000. Norges Bank bought a new position in shares of Crown during the fourth quarter valued at approximately $109,826,000. Clearbridge Investments LLC raised its position in shares of Crown by 474.8% in the 4th quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company's stock worth $111,854,000 after purchasing an additional 1,003,312 shares during the last quarter. Boston Partners bought a new position in Crown in the 4th quarter worth about $84,960,000. Finally, Metropolis Capital Ltd purchased a new stake in Crown during the 2nd quarter valued at about $29,291,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Insider Buying and Selling at Crown

In other news, Director James H. Miller sold 9,000 shares of Crown stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the sale, the director now directly owns 12,884 shares of the company's stock, valued at $1,068,470.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at approximately $50,480,440.34. The transaction was disclosed in a 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. Insiders sold 31,500 shares of company stock valued at $2,665,695 in the last 90 days. Insiders own 0.90% of the company's stock.

Crown Price Performance

CCK stock traded up $1.26 during trading on Monday, reaching $90.41. The company's stock had a trading volume of 899,600 shares, compared to its average volume of 1,134,022. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The company's fifty day moving average is $82.36 and its 200-day moving average is $80.45. The company has a market capitalization of $10.92 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $94.49.

Crown (NYSE:CCK - Get Free Report) last released its 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 return on equity of 23.96% and a net margin of 3.68%. During the same quarter last year, the business posted $1.68 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. On average, research analysts expect that Crown Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. Crown's dividend payout ratio is 28.82%.

Wall Street Analysts Forecast Growth

CCK has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Crown from $89.00 to $92.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 24th. UBS Group lowered their price objective on shares of Crown from $112.00 to $91.00 and set a "buy" rating on the stock in a research note on Wednesday, July 17th. Truist Financial boosted their target price on shares of Crown from $88.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research report on Wednesday, August 21st. Finally, Loop Capital boosted their price objective 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. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.21.

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.