PDT Partners LLC Invests $2.11 Million in Crown Holdings, Inc. (NYSE:CCK)

PDT Partners LLC acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,000 shares of the industrial products company's stock, valued at approximately $2,109,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Crown by 22.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 198,984 shares of the industrial products company's stock valued at $15,772,000 after purchasing an additional 36,895 shares during the period. Tidal Investments LLC boosted its stake in Crown by 89.6% during the first quarter. Tidal Investments LLC now owns 9,844 shares of the industrial products company's stock worth $780,000 after buying an additional 4,653 shares in the last quarter. Mather Group LLC. boosted its stake in Crown by 150.0% during the second quarter. Mather Group LLC. now owns 1,000 shares of the industrial products company's stock worth $79,000 after buying an additional 600 shares in the last quarter. CWM LLC boosted its stake in Crown by 167.1% during the second quarter. CWM LLC now owns 4,612 shares of the industrial products company's stock worth $343,000 after buying an additional 2,885 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in Crown by 1.0% during the second quarter. Gulf International Bank UK Ltd now owns 25,870 shares of the industrial products company's stock worth $1,924,000 after buying an additional 258 shares in the last quarter. Institutional investors own 90.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CCK. Royal Bank of Canada lifted their price target on shares of Crown from $105.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Barclays boosted their target price on shares of Crown from $100.00 to $112.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Robert W. Baird boosted their target price on shares of Crown from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Finally, Citigroup boosted their target price on shares of Crown from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $106.62.

Crown Stock Down 1.0 %

Shares of CCK traded down $0.93 during mid-day trading on Friday, hitting $92.09. 420,081 shares of the company's stock were exchanged, compared to its average volume of 1,093,787. The company has a market cap of $11.02 billion, a PE ratio of 113.69, a P/E/G ratio of 2.04 and a beta of 0.85. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46. The company has a 50-day simple moving average of $93.53 and a 200 day simple moving average of $87.11. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The business had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3.07 billion. On average, research analysts forecast that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Thursday, November 14th. Crown's dividend payout ratio is currently 123.46%.

Insider Transactions at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % 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 the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the sale, the chief executive officer now owns 563,678 shares in the company, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is currently owned by corporate insiders.

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.