Quantinno Capital Management LP Boosts Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Quantinno Capital Management LP increased its position in Crown Holdings, Inc. (NYSE:CCK) by 128.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,999 shares of the industrial products company’s stock after acquiring an additional 15,170 shares during the quarter. Quantinno Capital Management LP’s holdings in Crown were worth $2,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCK. FMR LLC increased its stake in shares of Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after purchasing an additional 749,085 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Crown by 7.8% during the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after acquiring an additional 412,973 shares during the period. Sessa Capital IM L.P. lifted its position in shares of 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 valued at $244,697,000 after acquiring an additional 1,989,374 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of 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 during the period. Finally, Clearbridge Investments LLC grew its position in shares of Crown by 7.1% during the second quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock worth $124,808,000 after purchasing an additional 111,589 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

NYSE CCK opened at $87.72 on Wednesday. The company has a market cap of $10.49 billion, a P/E ratio of 108.30, a P/E/G ratio of 1.96 and a beta of 0.84. The business’s 50 day moving average price is $92.79 and its 200-day moving average price is $87.40. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21.

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

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Analyst Upgrades and Downgrades

CCK has been the topic of a number of research analyst reports. Mizuho set a $110.00 price target on Crown in a report on Friday, October 18th. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Loop Capital raised their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada boosted their price target on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their price objective on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Three investment 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 currently has an average rating of “Moderate Buy” and an average price target of $106.62.

Insider Activity

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 shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s 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 owns 563,678 shares of the company’s stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,006 shares of company stock valued at $2,478,049. 0.90% of the stock is currently owned by insiders.

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.