Edgestream Partners L.P. Buys 29,866 Shares of Crown Holdings, Inc. (NYSE:CCK)

Edgestream Partners L.P. increased its stake in Crown Holdings, Inc. (NYSE:CCK) by 64.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,046 shares of the industrial products company’s stock after buying an additional 29,866 shares during the period. Edgestream Partners L.P. owned 0.06% of Crown worth $7,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Crown by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock worth $23,878,000 after acquiring an additional 10,295 shares in the last quarter. Sei Investments Co. raised its holdings in Crown by 139.2% in the second quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after purchasing an additional 71,227 shares in the last quarter. Jensen Investment Management Inc. lifted its position in Crown by 7.8% during the third quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after buying an additional 7,280 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Crown by 22.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 198,984 shares of the industrial products company’s stock valued at $15,772,000 after buying an additional 36,895 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Crown by 62.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock worth $1,722,000 after buying an additional 8,857 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Trading Down 1.0 %

Crown stock opened at $92.09 on Friday. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The business’s fifty day moving average is $93.53 and its 200 day moving average is $87.10. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The stock has a market capitalization of $11.02 billion, a PE ratio of 113.69, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85.

Crown (NYSE:CCK) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, sell-side analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. Crown’s dividend payout ratio is presently 123.46%.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on CCK shares. Wells Fargo & Company lifted their price target on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Loop Capital lifted their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Truist Financial upped their price target on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Mizuho set a $110.00 price objective on Crown in a research report on Friday, October 18th. Finally, Citigroup boosted their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.62.

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.