International Assets Investment Management LLC Takes Position in Crown Holdings, Inc. (NYSE:CCK)

International Assets Investment Management LLC purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,765 shares of the industrial products company's stock, valued at approximately $2,087,000.

Several other hedge funds also recently added to or reduced their stakes in CCK. Vanguard Group Inc. boosted its holdings in shares of Crown by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company's stock valued at $951,306,000 after buying an additional 176,639 shares during the period. Sessa Capital IM L.P. grew its holdings in shares of Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company's stock valued at $244,697,000 after purchasing an additional 1,989,374 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Crown by 2.0% during the 1st 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 during the period. 1832 Asset Management L.P. grew its stake in Crown by 31.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company's stock worth $147,032,000 after buying an additional 473,000 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Crown by 7.1% in the second quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company's stock valued at $124,808,000 after buying an additional 111,589 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer now directly owns 114,402 shares of the company's stock, valued at approximately $10,970,007.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Gerard H. Gifford sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $93.00, for a total value of $697,500.00. Following the completion of the sale, the chief executive officer now owns 571,178 shares in the company, valued at $53,119,554. 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 90 days. 0.90% of the stock is currently owned by insiders.

Crown Stock Down 0.7 %

Shares of Crown stock traded down $0.64 during trading on Monday, hitting $93.12. 588,572 shares of the stock traded hands, compared to its average volume of 1,122,073. The company has a fifty day moving average price of $93.06 and a two-hundred day moving average price of $85.66. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46. The stock has a market cap of $11.23 billion, a P/E ratio of 115.75, a PEG ratio of 2.08 and a beta of 0.85. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

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 paid a dividend of $0.25 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.07%. Crown's payout ratio is 123.46%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CCK shares. Truist Financial increased their price objective on shares of Crown from $95.00 to $103.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Royal Bank of Canada boosted their price objective on Crown from $105.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their target price on Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Finally, Citigroup boosted 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.62.

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.