Texas Permanent School Fund Corp Buys 570 Shares of Crown Holdings, Inc. (NYSE:CCK)

Texas Permanent School Fund Corp boosted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,403 shares of the industrial products company’s stock after purchasing an additional 570 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Crown were worth $8,275,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Crown by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after acquiring an additional 173,460 shares during the period. Victory Capital Management Inc. boosted its position in shares of Crown by 7.3% in the fourth quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock valued at $473,039,000 after acquiring an additional 350,265 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Crown by 7.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,536,995 shares of the industrial products company’s stock valued at $233,632,000 after acquiring an additional 186,387 shares during the period. Impax Asset Management Group plc boosted its position in shares of Crown by 7.1% in the fourth quarter. Impax Asset Management Group plc now owns 2,013,351 shares of the industrial products company’s stock valued at $185,409,000 after acquiring an additional 133,813 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Crown by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,320,502 shares of the industrial products company’s stock valued at $121,614,000 after acquiring an additional 44,195 shares during the period. 90.93% of the stock is owned by institutional investors.

Crown Price Performance

Shares of NYSE:CCK traded up $2.12 during midday trading on Thursday, reaching $74.60. The company’s stock had a trading volume of 1,269,752 shares, compared to its average volume of 1,118,918. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $96.35. The company has a market capitalization of $9.01 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.93 and a beta of 0.85. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. The business’s fifty day simple moving average is $80.07 and its 200-day simple moving average is $81.17.

Crown (NYSE:CCK) last announced its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. Crown had a return on equity of 23.95% and a net margin of 3.51%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. As a group, equities research analysts expect that Crown Holdings, Inc. will post 5.93 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Thursday, June 13th. Crown’s dividend payout ratio is 28.82%.

Insider Activity at Crown

In related news, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the transaction, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the transaction, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total value of $1,916,550.00. Following the transaction, the chief executive officer now owns 616,178 shares in the company, valued at approximately $52,486,042.04. The disclosure for this sale can be found here. Insiders have sold a total of 39,000 shares of company stock worth $3,300,420 over the last 90 days. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial restated a “hold” rating and issued a $88.00 target price (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Loop Capital upped their target price on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Robert W. Baird upped their target price on Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their target price on Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and an average target price of $98.31.

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.