SG Americas Securities LLC Makes New $1.20 Million Investment in Crown Holdings, Inc. (NYSE:CCK)

SG Americas Securities LLC bought a new stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,547 shares of the industrial products company's stock, valued at approximately $1,203,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Crown by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company's stock worth $951,306,000 after buying an additional 176,639 shares during the last quarter. Sessa Capital IM L.P. boosted its stake in shares of Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company's stock worth $244,697,000 after acquiring an additional 1,989,374 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Crown by 2.0% during the first quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company's stock worth $224,020,000 after purchasing an additional 56,604 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Crown by 31.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company's stock valued at $147,032,000 after purchasing an additional 473,000 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Crown by 7.1% in the 2nd quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company's stock valued at $124,808,000 after purchasing an additional 111,589 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Crown from $85.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 24th. StockNews.com lowered Crown from a "buy" rating to a "hold" rating in a research note on Monday, September 9th. UBS Group cut their target price on Crown from $112.00 to $91.00 and set a "buy" rating for the company in a research note on Wednesday, July 17th. Truist Financial boosted their price target 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. Finally, Morgan Stanley raised their price objective on shares of Crown from $92.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and a consensus target price of $101.86.

Insider Buying and Selling

In other news, Director James H. Miller sold 1,006 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company's stock, valued at $1,187,734.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares in the company, valued at $50,323,381.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James H. Miller sold 1,006 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,506 shares of company stock valued at $3,392,349. Company insiders own 0.90% of the company's stock.

Crown Price Performance

Shares of NYSE CCK traded down $1.00 on Thursday, hitting $91.60. The company's stock had a trading volume of 3,637,298 shares, compared to its average volume of 1,125,535. The stock has a 50 day moving average of $90.67 and a 200-day moving average of $83.70. The company has a market capitalization of $11.06 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.74. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping analysts' consensus estimates 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%. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 EPS. As a group, research analysts predict that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Crown's payout ratio is 28.82%.

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.