Assenagon Asset Management S.A. Invests $1.74 Million in Crown Holdings, Inc. (NYSE:CCK)

Assenagon Asset Management S.A. bought a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,176 shares of the industrial products company's stock, valued at approximately $1,743,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of Crown during the third quarter worth approximately $2,087,000. Community Trust & Investment Co. raised its position in Crown by 1.1% during the 3rd quarter. Community Trust & Investment Co. now owns 97,145 shares of the industrial products company's stock worth $9,314,000 after buying an additional 1,020 shares during the last quarter. Metropolis Capital Ltd lifted its stake in shares of Crown by 269.7% in the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company's stock worth $139,578,000 after acquiring an additional 1,062,001 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Crown in the third quarter valued at about $267,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Crown by 27.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 222,522 shares of the industrial products company's stock worth $21,335,000 after acquiring an additional 47,484 shares during the period. Hedge funds and other institutional investors own 90.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Crown from $105.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Loop Capital raised their price objective on shares of Crown from $120.00 to $129.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Barclays upped their target price on shares of Crown from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Robert W. Baird lifted their price target on shares of Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on Crown from $97.00 to $105.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and an average price target of $106.62.

Crown Trading Up 0.2 %

Shares of CCK stock traded up $0.21 on Friday, reaching $93.76. 793,525 shares of the stock were exchanged, compared to its average volume of 1,124,589. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $98.46. The stock has a market cap of $11.31 billion, a P/E ratio of 115.75, a price-to-earnings-growth ratio of 2.13 and a beta of 0.86. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The firm has a 50 day moving average of $93.06 and a two-hundred day moving average of $85.54.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, November 14th. Crown's dividend payout ratio (DPR) is presently 123.46%.

Insider Activity at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 114,402 shares of the company's stock, valued at $10,970,007.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Timothy J. Donahue sold 7,500 shares of the business'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 transaction, the chief executive officer now directly owns 586,178 shares of the company's stock, valued at approximately $50,323,381.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,506 shares of company stock worth $3,075,799. Company insiders own 0.90% of the company's stock.

Crown 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.