Wilmington Savings Fund Society FSB Raises Stake in Crown Holdings, Inc. (NYSE:CCK)

Wilmington Savings Fund Society FSB increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 48.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,575 shares of the industrial products company’s stock after buying an additional 5,397 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Crown were worth $1,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares during the last quarter. Covestor Ltd lifted its holdings in Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares during the last quarter. Brooklyn Investment Group bought a new position in Crown during the third quarter worth about $44,000. Blue Trust Inc. increased its stake in shares of Crown by 172.6% in the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 385 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Crown in the third quarter valued at approximately $48,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Crown

In related news, Director James H. Miller sold 1,006 shares of Crown 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 transaction, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 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 sale, 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. In the last 90 days, insiders have sold 26,006 shares of company stock valued at $2,478,049. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays lifted 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. Mizuho set a $110.00 price objective on Crown in a research note on Friday, October 18th. Royal Bank of Canada raised their target price on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley upped their price target on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Truist Financial raised their price objective on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Down 0.2 %

Shares of Crown stock opened at $87.88 on Friday. 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 Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The firm has a market cap of $10.51 billion, a PE ratio of 108.49, a PEG ratio of 1.95 and a beta of 0.83. The company has a 50 day simple moving average of $92.45 and a two-hundred day simple moving average of $87.47.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating 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 return on equity of 24.57% and a net margin of 0.83%. Analysts expect that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. Crown’s dividend payout ratio (DPR) is 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.