Worldquant Millennium Advisors LLC Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Worldquant Millennium Advisors LLC bought a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 106,197 shares of the industrial products company's stock, valued at approximately $10,182,000. Worldquant Millennium Advisors LLC owned about 0.09% of Crown at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CWM LLC grew its stake in shares of Crown by 167.1% in the second quarter. CWM LLC now owns 4,612 shares of the industrial products company's stock valued at $343,000 after buying an additional 2,885 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Crown by 15.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,156 shares of the industrial products company's stock worth $532,000 after purchasing an additional 931 shares during the period. Swedbank AB lifted its position in shares of Crown by 1.7% during the second quarter. Swedbank AB now owns 143,502 shares of the industrial products company's stock worth $10,675,000 after purchasing an additional 2,371 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Crown by 172.6% in the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 385 shares during the period. Finally, OFI Invest Asset Management grew its holdings in shares of Crown by 2.2% in the second quarter. OFI Invest Asset Management now owns 11,267 shares of the industrial products company's stock valued at $782,000 after purchasing an additional 240 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company's 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 sale, the chief executive officer now directly owns 571,178 shares of the company's stock, valued at $53,119,554. This represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value 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 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,006 shares of company stock valued at $2,478,049 in the last ninety days. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on CCK. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research report on Saturday, October 26th. Truist Financial boosted their target price on Crown from $95.00 to $103.00 and gave the stock a "hold" rating in a research note on Tuesday, October 15th. Loop Capital increased their price target on Crown from $120.00 to $129.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Barclays boosted their price objective on Crown from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company raised their target price on shares of Crown from $97.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $106.62.

Crown Stock Down 1.3 %

NYSE:CCK traded down $1.18 during midday trading on Friday, hitting $88.38. 1,884,538 shares of the company were exchanged, compared to its average volume of 1,089,652. 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 fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a market capitalization of $10.57 billion, a PE ratio of 109.11, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83. The company has a fifty day simple moving average of $93.11 and a 200 day simple moving average of $87.32.

Crown (NYSE:CCK - Get Free Report) last posted 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. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. As a group, equities analysts anticipate that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.13%. Crown's dividend payout ratio (DPR) is presently 123.46%.

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.