Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 281,949 shares of the industrial products company’s stock after selling 25,391 shares during the quarter. Russell Investments Group Ltd.’s holdings in Crown were worth $25,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. DB Fitzpatrick & Co Inc increased its position in Crown by 0.9% during the third quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company’s stock worth $1,439,000 after purchasing an additional 142 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Crown by 5.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock worth $282,000 after acquiring an additional 154 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Crown by 1.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 13,715 shares of the industrial products company’s stock valued at $1,205,000 after acquiring an additional 180 shares during the period. Treasurer of the State of North Carolina raised its position in Crown by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 48,116 shares of the industrial products company’s stock valued at $4,257,000 after purchasing an additional 180 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in Crown by 2.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company’s stock worth $611,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction dated Tuesday, April 30th. The shares were 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 in the company, valued at $52,486,042.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Crown Stock Performance

CCK stock opened at $83.00 on Thursday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.75 and a beta of 0.91. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $96.35. The stock’s fifty day moving average is $77.94 and its two-hundred day moving average is $82.62.

Crown (NYSE:CCK) last posted its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Crown had a return on equity of 24.23% and a net margin of 3.51%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $1.20 earnings per share. On average, research analysts predict that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.25 per share. This is a boost from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s payout ratio is currently 28.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCK. Royal Bank of Canada lowered their target price on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. UBS Group began coverage on Crown in a report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price objective for the company. Truist Financial restated a “hold” rating and set a $88.00 price objective (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Wolfe Research initiated coverage on Crown in a research report on Friday, March 1st. They issued an “outperform” rating and a $102.00 target price for the company. Finally, Robert W. Baird upped their price target on Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.29.

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.