Eads & Heald Wealth Management Lowers Position in Crown Holdings, Inc. (NYSE:CCK)

Eads & Heald Wealth Management cut its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 21.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,694 shares of the industrial products company’s stock after selling 738 shares during the period. Eads & Heald Wealth Management’s holdings in Crown were worth $200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC purchased a new stake in Crown in the second quarter worth about $269,000. Fifth Third Bancorp grew its stake in shares of Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after buying an additional 176 shares during the last quarter. Hall Laurie J Trustee increased its position in Crown by 9.6% during the 2nd quarter. Hall Laurie J Trustee now owns 20,880 shares of the industrial products company’s stock valued at $1,553,000 after buying an additional 1,825 shares in the last quarter. Metropolis Capital Ltd purchased a new position in Crown during the second quarter valued at $29,291,000. Finally, Neo Ivy Capital Management bought a new stake in Crown in the second quarter worth $110,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Crown

In related news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the transaction, the director now owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the transaction, the director now owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock valued at $2,665,695 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Crown Stock Performance

CCK traded up $0.25 during trading on Thursday, hitting $89.60. The company’s stock had a trading volume of 283,979 shares, compared to its average volume of 1,136,307. The business’s 50 day simple moving average is $80.65 and its 200-day simple moving average is $79.77. The firm has a market cap of $10.82 billion, a PE ratio of 25.70, a P/E/G ratio of 2.09 and a beta of 0.85. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $94.49. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

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

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Thursday, August 15th. Crown’s payout ratio is 28.82%.

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.