Crown Holdings, Inc. (NYSE:CCK) Stock Holdings Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 27.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,522 shares of the industrial products company's stock after purchasing an additional 47,484 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.18% of Crown worth $21,335,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC grew its holdings in Crown by 10.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company's stock worth $12,185,000 after acquiring an additional 14,362 shares in the last quarter. Empowered Funds LLC acquired a new position in Crown during the 1st quarter worth $6,854,000. Russell Investments Group Ltd. grew its holdings in Crown by 21.0% during the 1st quarter. Russell Investments Group Ltd. now owns 341,216 shares of the industrial products company's stock worth $27,045,000 after acquiring an additional 59,267 shares in the last quarter. Entropy Technologies LP grew its holdings in Crown by 1,127.4% during the 1st quarter. Entropy Technologies LP now owns 27,456 shares of the industrial products company's stock worth $2,176,000 after acquiring an additional 25,219 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Crown by 16.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 103,013 shares of the industrial products company's stock worth $8,163,000 after acquiring an additional 14,501 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Crown from $105.00 to $113.00 and gave the stock an "outperform" rating in a research report on Wednesday. Citigroup raised their price target on shares of Crown from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their price target on shares of Crown from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Monday. Barclays raised their price target on shares of Crown from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Mizuho set a $110.00 price target on shares of Crown in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $106.62.

Crown Price Performance

Shares of CCK stock traded down $1.52 during midday trading on Friday, reaching $93.68. 709,754 shares of the company were exchanged, compared to its average volume of 1,131,258. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a market cap of $11.31 billion, a P/E ratio of 27.45, a PEG ratio of 2.19 and a beta of 0.86. The company's 50 day moving average price is $92.40 and its two-hundred day moving average price is $84.87. 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 (NYSE:CCK - Get Free Report) last released its quarterly earnings results 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. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company 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 firm earned $1.68 EPS. Crown's revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts expect that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. Crown's dividend payout ratio is currently 28.82%.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares of the company's stock, valued at $52,416,653.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares of the company's stock, valued at $10,970,007.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the transaction, the chief executive officer now directly owns 578,678 shares in the company, valued at approximately $52,416,653.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock valued at $3,075,799 in the last quarter. Insiders own 0.90% of the company's stock.

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.