Thompson Investment Management Inc. Trims Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Thompson Investment Management Inc. trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,094 shares of the industrial products company’s stock after selling 170 shares during the quarter. Thompson Investment Management Inc.’s holdings in Crown were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Steph & Co. raised its stake in Crown by 32.9% during the 1st quarter. Steph & Co. now owns 4,177 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 1,033 shares during the period. MJP Associates Inc. ADV purchased a new position in shares of Crown during the 1st quarter valued at $868,000. Gulf International Bank UK Ltd increased its stake in Crown by 13.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 25,612 shares of the industrial products company’s stock worth $2,030,000 after buying an additional 3,036 shares in the last quarter. Perpetual Ltd grew its position in shares of Crown by 10.4% during the first quarter. Perpetual Ltd now owns 77,339 shares of the industrial products company’s stock worth $6,130,000 after purchasing an additional 7,288 shares in the last quarter. Finally, Rise Advisors LLC purchased a new position in Crown in the 1st quarter worth approximately $27,000. 90.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CCK shares. Wells Fargo & Company raised their target price on shares of Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Robert W. Baird lifted their price objective on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Morgan Stanley started coverage on Crown in a report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective on the stock. Loop Capital raised their price target on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.29.

Insiders Place Their Bets

In other news, Director James H. Miller sold 9,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the transaction, the director now owns 12,884 shares in the company, valued at approximately $1,068,470.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total value of $746,370.00. Following the completion of the transaction, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy J. Donahue sold 22,500 shares of the 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 completion of the sale, the chief executive officer now directly owns 616,178 shares in the company, valued at $52,486,042.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,000 shares of company stock worth $3,300,420. 0.90% of the stock is owned by corporate insiders.

Crown Trading Down 0.8 %

NYSE:CCK traded down $0.59 on Tuesday, reaching $78.61. 701,034 shares of the company’s stock were exchanged, compared to its average volume of 1,126,093. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $96.35. The business has a fifty day moving average of $81.50 and a 200-day moving average of $82.55. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.05 and a beta of 0.88. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 2.26.

Crown (NYSE:CCK) last released its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, analysts expect that Crown Holdings, Inc. will post 5.95 earnings per share for the current year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Thursday, June 13th. Crown’s dividend payout ratio is presently 28.82%.

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.