Crown Holdings, Inc. (NYSE:CCK) is Iridian Asset Management LLC CT’s 9th Largest Position

Iridian Asset Management LLC CT reduced its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 28.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 195,849 shares of the industrial products company’s stock after selling 78,610 shares during the period. Crown comprises about 4.0% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 9th largest holding. Iridian Asset Management LLC CT’s holdings in Crown were worth $18,778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CCK. Sessa Capital IM L.P. increased its stake in shares of Crown by 153.0% during the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after buying an additional 1,989,374 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Crown in the 1st quarter valued at about $119,167,000. Metropolis Capital Ltd lifted its position in shares of Crown by 269.7% in the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after purchasing an additional 1,062,001 shares during the period. AQR Capital Management LLC boosted its stake in shares of Crown by 121.7% during the second quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock valued at $54,787,000 after purchasing an additional 404,250 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Crown during the first quarter valued at approximately $29,981,000. 90.93% of the stock is owned by institutional investors.

Crown Trading Up 1.0 %

Crown stock opened at $95.68 on Thursday. The stock has a 50-day moving average price of $92.77 and a 200 day moving average price of $85.29. The company has a market capitalization of $11.55 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, November 14th. Crown’s dividend payout ratio (DPR) is currently 28.82%.

Insider Transactions at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the transaction, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the transaction, the chief executive officer now directly owns 578,678 shares in the company, valued at approximately $52,416,653.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares in the company, valued at approximately $10,970,007.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock worth $3,075,799 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CCK has been the topic of several recent research reports. Robert W. Baird increased their target price on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. UBS Group cut their target price on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Loop Capital increased their price target on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Morgan Stanley lifted their price objective on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada increased their target price on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.62.

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.