M.D. Sass LLC Increases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

M.D. Sass LLC grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 867,620 shares of the industrial products company’s stock after acquiring an additional 28,585 shares during the period. Crown comprises 6.2% of M.D. Sass LLC’s investment portfolio, making the stock its 2nd biggest position. M.D. Sass LLC owned approximately 0.73% of Crown worth $83,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Crown by 6.1% during the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 158 shares during the period. GAMMA Investing LLC boosted its holdings in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares during the period. Fifth Third Bancorp grew its stake in Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after buying an additional 176 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Crown by 2.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after acquiring an additional 183 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 209 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Trading Down 0.9 %

Shares of Crown stock traded down $0.83 during trading on Tuesday, reaching $91.79. The company’s stock had a trading volume of 50,382 shares, compared to its average volume of 1,123,909. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46. The firm’s 50-day moving average is $93.60 and its two-hundred day moving average is $86.90. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 114.30, a PEG ratio of 2.06 and a beta of 0.85.

Crown (NYSE:CCK) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Transactions at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at $10,970,007.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,506 shares of company stock worth $3,157,399. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

CCK has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Royal Bank of Canada increased their price target on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Barclays raised their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Mizuho set a $110.00 target price on shares of Crown in a report on Friday, October 18th. Finally, Truist Financial raised their price target on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

About Crown

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.