Impax Asset Management Group plc Reduces Stake in Crown Holdings, Inc. (NYSE:CCK)

Impax Asset Management Group plc reduced its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 16.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,384,275 shares of the industrial products company's stock after selling 278,769 shares during the period. Impax Asset Management Group plc owned approximately 1.15% of Crown worth $132,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company's stock worth $30,000 after purchasing an additional 163 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Crown in the 1st quarter worth approximately $41,000. Blue Trust Inc. raised its holdings in shares of Crown by 172.6% during the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company's stock worth $48,000 after acquiring an additional 385 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Crown by 36.1% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 176 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Crown in the third quarter valued at $55,000. Institutional investors own 90.93% of the company's stock.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares of the company's stock, valued at $50,323,381.30. 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 through the SEC website. In other Crown news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now directly owns 12,424 shares of the company's stock, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $643,875.00. Following the sale, the chief executive officer now owns 586,178 shares of the company's stock, valued at approximately $50,323,381.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,506 shares of company stock worth $3,075,799. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research report on Saturday, October 26th. Citigroup increased their price target on shares of Crown from $100.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their price objective on Crown from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. Wells Fargo & Company raised their price objective on Crown from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Finally, Robert W. Baird boosted their target price on Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Crown presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.62.

Crown Trading Up 0.8 %

Shares of Crown stock traded up $0.77 on Tuesday, hitting $93.90. 729,790 shares of the company traded hands, compared to its average volume of 1,120,240. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46. The company has a market cap of $11.33 billion, a PE ratio of 115.92, a PEG ratio of 2.08 and a beta of 0.85. The stock's 50 day moving average price is $93.20 and its 200-day moving average price is $85.89. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, November 14th. Crown's dividend payout ratio is 123.46%.

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.