Public Employees Retirement System of Ohio Sells 3,829 Shares of Crown Holdings, Inc. (NYSE:CCK)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,603 shares of the industrial products company’s stock after selling 3,829 shares during the period. Public Employees Retirement System of Ohio’s holdings in Crown were worth $3,218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mutual of America Capital Management LLC increased its stake in Crown by 10.3% in the first quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock valued at $12,185,000 after purchasing an additional 14,362 shares in the last quarter. Vanguard Group Inc. increased its stake in 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 purchasing an additional 173,460 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Crown by 245.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock valued at $5,784,000 after purchasing an additional 44,630 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 44,195 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Crown in the fourth quarter valued at approximately $3,122,000. 90.93% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total value of $637,500.00. Following the transaction, the chief executive officer now directly owns 608,678 shares of the company’s stock, valued at $51,737,630. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total transaction of $637,500.00. Following the sale, the chief executive officer now directly owns 608,678 shares in the company, valued at $51,737,630. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock valued at $2,659,320 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Crown Stock Performance

NYSE CCK opened at $88.11 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The firm’s fifty day moving average price is $79.32 and its two-hundred day moving average price is $80.11. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $94.49. The firm has a market capitalization of $10.63 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 2.10 and a beta of 0.84.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.22. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 earnings per share. As a group, research analysts anticipate that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Thursday, August 15th. Crown’s payout ratio is presently 28.82%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CCK shares. Morgan Stanley upped their price target on shares of Crown from $89.00 to $92.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their price target on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Citigroup upped their price target on shares of Crown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Truist Financial upped their price target on shares of Crown from $88.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.21.

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.