Crown Holdings, Inc. (NYSE:CCK) Stake Increased by Carmel Capital Partners LLC

Carmel Capital Partners LLC grew its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 17,150 shares of the industrial products company’s stock after buying an additional 388 shares during the quarter. Carmel Capital Partners LLC’s holdings in Crown were worth $1,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CCK. Sessa Capital IM L.P. increased its position in Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after buying an additional 1,989,374 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of Crown in the 1st quarter worth about $119,167,000. Metropolis Capital Ltd lifted its position in Crown by 269.7% in the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after purchasing an additional 1,062,001 shares during the last quarter. AQR Capital Management LLC boosted its stake in Crown by 121.7% during the 2nd 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 during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Crown in the 1st quarter worth about $29,981,000. 90.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCK has been the subject of several analyst reports. Bank of America boosted their price objective on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Mizuho set a $110.00 price target on Crown in a research report on Friday, October 18th. Barclays raised their price target on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Truist Financial upped their price objective on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird raised their target price on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average price target of $106.62.

Crown Price Performance

NYSE CCK opened at $93.40 on Friday. The stock has a market capitalization of $11.17 billion, a P/E ratio of 115.30, a P/E/G ratio of 2.06 and a beta of 0.85. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The business’s fifty day moving average is $93.43 and its two-hundred day moving average is $86.10. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s dividend payout ratio is 123.46%.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gerard H. Gifford sold 10,000 shares of Crown 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 sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock worth $3,157,399 in the last quarter. 0.90% of the stock is owned by company insiders.

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.