MetLife Investment Management LLC Sells 1,218 Shares of Crown Holdings, Inc. (NYSE:CCK)

MetLife Investment Management LLC lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 61,566 shares of the industrial products company’s stock after selling 1,218 shares during the quarter. MetLife Investment Management LLC’s holdings in Crown were worth $5,903,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CCK. Sessa Capital IM L.P. grew its holdings 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 purchasing an additional 1,989,374 shares during the last quarter. Metropolis Capital Ltd grew its stake in Crown by 269.7% during the 3rd quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock worth $139,578,000 after buying an additional 1,062,001 shares during the last quarter. Jennison Associates LLC increased its position in Crown by 125.0% during the 3rd quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after buying an additional 751,530 shares in the last quarter. FMR LLC raised its stake in Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after buying an additional 749,085 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Crown by 31.5% in the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after acquiring an additional 473,000 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Morgan Stanley raised their price target on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Citigroup upped their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Mizuho set a $110.00 target price on Crown in a research note on Friday, October 18th. Finally, Truist Financial boosted their price target on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Insider Buying and Selling

In other news, COO Gerard H. Gifford sold 10,000 shares of the firm’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 transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on 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 owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,506 shares of company stock worth $3,157,399. Insiders own 0.90% of the company’s stock.

Crown Stock Performance

Shares of CCK stock opened at $92.09 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46. The business’s 50 day moving average is $93.53 and its two-hundred day moving average is $87.11. The company has a market capitalization of $11.02 billion, a P/E ratio of 113.69, a P/E/G ratio of 2.06 and a beta of 0.85.

Crown (NYSE:CCK) last announced its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Analysts expect that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio is presently 123.46%.

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.