Fmr LLC Buys 749,085 Shares of Crown Holdings, Inc. (NYSE:CCK)

Fmr LLC raised its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 9.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,787,606 shares of the industrial products company’s stock after acquiring an additional 749,085 shares during the period. Fmr LLC owned approximately 7.35% of Crown worth $842,556,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CCK. Dai ichi Life Insurance Company Ltd bought a new stake in Crown in the third quarter worth about $568,000. Qsemble Capital Management LP lifted its stake in shares of Crown by 31.5% during the 3rd quarter. Qsemble Capital Management LP now owns 11,113 shares of the industrial products company’s stock worth $1,066,000 after acquiring an additional 2,659 shares during the last quarter. Bank of Montreal Can boosted its holdings in Crown by 672.7% during the 3rd quarter. Bank of Montreal Can now owns 111,426 shares of the industrial products company’s stock valued at $10,557,000 after acquiring an additional 97,006 shares during the period. Dynamic Technology Lab Private Ltd grew its position in Crown by 6.8% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 21,201 shares of the industrial products company’s stock valued at $2,033,000 after acquiring an additional 1,353 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Crown by 9.6% in the third quarter. Daiwa Securities Group Inc. now owns 9,172 shares of the industrial products company’s stock worth $879,000 after purchasing an additional 800 shares during the period. Institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCK. Loop Capital raised their price target on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays lifted their price target on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Robert W. Baird lifted their target price on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company increased their price target on Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Insiders Place Their Bets

In other news, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now owns 12,424 shares in the company, valued at $1,187,734.40. This represents a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,506 shares of company stock valued at $3,157,399. Insiders own 0.90% of the company’s stock.

Crown Trading Up 0.9 %

NYSE CCK opened at $93.02 on Thursday. The firm has a market cap of $11.13 billion, a PE ratio of 114.84, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The company has a 50 day moving average price of $93.60 and a 200 day moving average price of $86.96.

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

Crown Announces Dividend

The business 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. This represents a $1.00 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio is presently 123.46%.

About Crown

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.