John G Ullman & Associates Inc. Lowers Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

John G Ullman & Associates Inc. trimmed its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,289 shares of the industrial products company’s stock after selling 300 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Crown were worth $2,242,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new position in Crown during the 4th quarter valued at about $26,000. Rise Advisors LLC acquired a new stake in Crown in the 1st quarter valued at about $27,000. Quest Partners LLC acquired a new stake in Crown in the 4th quarter valued at about $34,000. Mather Group LLC. acquired a new stake in Crown in the 1st quarter valued at about $32,000. Finally, Quarry LP raised its position in Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 276 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Stock Performance

CCK traded up $2.12 during trading on Thursday, hitting $74.60. 1,269,752 shares of the stock were exchanged, compared to its average volume of 1,118,918. The firm has a market capitalization of $9.01 billion, a P/E ratio of 21.50, a PEG ratio of 1.93 and a beta of 0.85. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $96.35. The stock has a fifty day moving average price of $80.07 and a two-hundred day moving average price of $81.17. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 2.26.

Crown (NYSE:CCK) last announced its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.06. Crown had a return on equity of 23.95% and a net margin of 3.51%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the business posted $1.20 EPS. The company’s revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts predict that Crown Holdings, Inc. will post 5.93 earnings per share for the current year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a $0.25 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. Crown’s dividend payout ratio (DPR) is currently 28.82%.

Insider Buying and Selling at Crown

In other Crown news, Director James H. Miller sold 9,000 shares of Crown stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the transaction, the director now directly owns 12,884 shares in the company, valued at approximately $1,068,470.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the sale, the chief executive officer now directly owns 608,678 shares in the company, valued at $51,737,630. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James H. Miller sold 9,000 shares of Crown stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the sale, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,000 shares of company stock worth $3,300,420. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CCK shares. Citigroup reduced their price target on Crown from $102.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday. Loop Capital increased their price target on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley assumed coverage on Crown in a research report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target on the stock. Wells Fargo & Company raised their target price on Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Truist Financial reissued a “hold” rating and set a $88.00 target price (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.31.

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.