Polar Asset Management Partners Inc. Invests $4.16 Million in Crown Holdings, Inc. (NYSE:CCK)

Polar Asset Management Partners Inc. bought a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,400 shares of the industrial products company's stock, valued at approximately $4,161,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Crown by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company's stock valued at $23,878,000 after buying an additional 10,295 shares in the last quarter. Sei Investments Co. boosted its stake in Crown by 139.2% in the second quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company's stock valued at $9,104,000 after acquiring an additional 71,227 shares in the last quarter. Jensen Investment Management Inc. grew its holdings in shares of Crown by 7.8% during the third quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company's stock worth $9,676,000 after purchasing an additional 7,280 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Crown by 62.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company's stock worth $1,722,000 after purchasing an additional 8,857 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company's stock valued at $544,301,000 after purchasing an additional 412,973 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Price Performance

Shares of CCK traded down $2.50 during mid-day trading on Thursday, hitting $89.56. The company's stock had a trading volume of 2,602,926 shares, compared to its average volume of 1,128,598. 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 Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $98.46. The firm has a market capitalization of $10.71 billion, a P/E ratio of 110.57, a P/E/G ratio of 2.04 and a beta of 0.83. The firm has a 50-day simple moving average of $93.23 and a 200 day simple moving average of $87.29.

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

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. Crown's dividend payout ratio (DPR) is presently 123.46%.

Insider Activity

In other Crown news, Director James H. Miller sold 1,006 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. This trade represents a 7.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the sale, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,506 shares of company stock worth $3,157,399. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CCK. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research report on Saturday, October 26th. Truist Financial lifted their target price on shares of Crown from $95.00 to $103.00 and gave the company a "hold" rating in a report on Tuesday, October 15th. Mizuho set a $110.00 price objective on shares of Crown in a research report on Friday, October 18th. Loop Capital upped their target price on shares of Crown from $120.00 to $129.00 and gave the company a "buy" rating in a report on Monday, October 21st. Finally, Royal Bank of Canada raised their price target on Crown from $105.00 to $113.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and an average target price of $106.62.

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.