State Street Corp Raises Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

State Street Corp raised its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,000,402 shares of the industrial products company's stock after purchasing an additional 69,260 shares during the period. State Street Corp owned 3.34% of Crown worth $383,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CCK. SYM FINANCIAL Corp purchased a new position in Crown in the 3rd quarter valued at approximately $239,000. Quadrature Capital Ltd boosted its position in shares of Crown by 26.6% during the 3rd quarter. Quadrature Capital Ltd now owns 12,914 shares of the industrial products company's stock valued at $1,238,000 after acquiring an additional 2,716 shares during the last quarter. Quantinno Capital Management LP grew its stake in Crown by 128.2% in the 3rd quarter. Quantinno Capital Management LP now owns 26,999 shares of the industrial products company's stock worth $2,589,000 after buying an additional 15,170 shares in the last quarter. Reynders McVeigh Capital Management LLC grew its position in Crown by 2.2% in the third quarter. Reynders McVeigh Capital Management LLC now owns 300,745 shares of the industrial products company's stock worth $28,835,000 after acquiring an additional 6,350 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Crown during the 3rd quarter valued at about $425,000. Institutional investors own 90.93% of the company's stock.

Crown Stock Performance

Shares of CCK traded down $0.50 during trading hours on Tuesday, hitting $87.72. The stock had a trading volume of 1,596,793 shares, compared to its average volume of 1,133,519. The firm has a market capitalization of $10.49 billion, a PE ratio of 108.90, a PEG ratio of 1.96 and a beta of 0.84. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The stock has a fifty day moving average price of $92.95 and a 200 day moving average price of $87.37. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46.

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

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. Crown's payout ratio is 123.46%.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the transaction, the chief executive officer now directly owns 571,178 shares of the company's stock, valued at approximately $53,119,554. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James H. Miller sold 1,006 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares in the company, valued at $1,187,734.40. This represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,006 shares of company stock worth $2,478,049 over the last ninety days. Corporate insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCK. Wells Fargo & Company lifted their target price on shares of Crown from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Barclays raised their price target on Crown from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Mizuho set a $110.00 target price on Crown in a report on Friday, October 18th. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research note on Saturday, October 26th. Finally, Loop Capital lifted their price objective on Crown from $120.00 to $129.00 and gave the company a "buy" rating in a research note 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.62.

Crown Company 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.