Reynders McVeigh Capital Management LLC Has $28.84 Million Holdings in Crown Holdings, Inc. (NYSE:CCK)

Reynders McVeigh Capital Management LLC increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,745 shares of the industrial products company’s stock after acquiring an additional 6,350 shares during the quarter. Crown makes up about 1.5% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 25th largest position. Reynders McVeigh Capital Management LLC’s holdings in Crown were worth $28,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in Crown by 4.3% during the third 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. boosted its stake in Crown by 139.2% during the second quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock worth $9,104,000 after acquiring an additional 71,227 shares in the last quarter. Jensen Investment Management Inc. boosted its stake 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 worth $9,676,000 after acquiring an additional 7,280 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Crown by 62.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock valued at $1,722,000 after buying an additional 8,857 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Crown by 7.8% in the third quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after buying an additional 412,973 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CCK. Loop Capital raised their price objective on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada raised their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Mizuho set a $110.00 price objective on shares of Crown in a research note on Friday, October 18th. Barclays raised their price objective 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. Finally, Wells Fargo & Company raised 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $106.62.

Insider Buying and Selling at Crown

In other news, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This represents a 7.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,506 shares of company stock worth $3,157,399. Company insiders own 0.90% of the company’s stock.

Crown Stock Performance

Shares of Crown stock opened at $92.03 on Wednesday. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 113.61, a PEG ratio of 2.05 and a beta of 0.84. The firm’s 50-day moving average is $93.40 and its 200 day moving average is $87.24. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84.

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, topping analysts’ consensus estimates of $1.81 by $0.18. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Sell-side analysts anticipate 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio is currently 123.46%.

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.