Natixis Sells 70,935 Shares of Crown Holdings, Inc. (NYSE:CCK)

Natixis decreased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 59.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,400 shares of the industrial products company’s stock after selling 70,935 shares during the quarter. Natixis’ holdings in Crown were worth $3,757,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its holdings in Crown by 10.3% in the first quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock valued at $12,185,000 after buying an additional 14,362 shares during the period. Vanguard Group Inc. boosted its position in shares of Crown by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock worth $1,089,029,000 after purchasing an additional 173,460 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Crown by 245.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock worth $5,784,000 after purchasing an additional 44,630 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Crown by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,320,502 shares of the industrial products company’s stock worth $121,614,000 after purchasing an additional 44,195 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of Crown during the 4th quarter worth about $3,122,000. Institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

CCK has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Crown from $89.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Truist Financial raised their price target on shares of Crown from $88.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday. Wells Fargo & Company raised their price target on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Wednesday. Bank of America raised their price target on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird raised their price target on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.64.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the transaction, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director James H. Miller sold 9,000 shares of Crown stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now directly owns 12,884 shares of the company’s stock, valued at approximately $1,068,470.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the sale, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The disclosure for this sale can be found here. Insiders sold a total of 54,000 shares of company stock valued at $4,575,870 in the last three months. Company insiders own 0.90% of the company’s stock.

Crown Stock Up 0.6 %

Crown stock opened at $85.43 on Friday. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $95.31. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 2.20 and a beta of 0.85. The company has a current ratio of 1.05, a quick ratio of 0.77 and a debt-to-equity ratio of 2.00. The firm has a 50 day simple moving average of $79.17 and a 200 day simple moving average of $80.27.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the business earned $1.68 EPS. Crown’s revenue was down 2.2% compared to the same quarter last year. On average, analysts predict that Crown Holdings, Inc. will post 6.07 earnings per share for the current year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.17%. Crown’s payout ratio is 28.82%.

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.