Public Employees Retirement System of Ohio Boosts Holdings in Crown Holdings, Inc. (NYSE:CCK)

Public Employees Retirement System of Ohio increased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 43.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,071 shares of the industrial products company’s stock after buying an additional 19,492 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Crown were worth $6,143,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CCK. Sessa Capital IM L.P. increased its stake in 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 worth $244,697,000 after acquiring an additional 1,989,374 shares during the last quarter. Metropolis Capital Ltd grew its holdings in shares of 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 purchasing an additional 1,062,001 shares during the period. Jennison Associates LLC increased its position in shares of Crown by 125.0% during the 3rd quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock worth $129,698,000 after purchasing an additional 751,530 shares during the last quarter. FMR LLC raised its holdings in Crown by 9.3% in the 3rd 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 period. Finally, 1832 Asset Management L.P. lifted its position 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 valued at $147,032,000 after buying an additional 473,000 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Mizuho set a $110.00 price target on Crown in a research report on Friday, October 18th. Loop Capital boosted their price objective on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company raised their target price on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Citigroup boosted their price target on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Stock Performance

NYSE CCK opened at $87.88 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. The company has a market capitalization of $10.51 billion, a PE ratio of 108.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The business’s 50-day moving average price is $92.45 and its 200 day moving average price is $87.44. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46.

Crown (NYSE:CCK) last announced its quarterly earnings data 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. Crown had a net margin of 0.83% and a return on equity of 24.57%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. On average, research analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current 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 issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.14%. Crown’s dividend payout ratio is currently 123.46%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the sale, the chief executive officer now owns 571,178 shares in the company, valued at $53,119,554. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the sale, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 7.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,006 shares of company stock valued at $2,478,049 over the last three months. 0.90% of the stock is owned by company 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.