Crown Holdings, Inc. $CCK Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. raised its stake in Crown Holdings, Inc. by 4,180.3%, now owning approximately 0.26% of the company worth $31.7 million.
• Several other institutional investors have also increased their positions in Crown Holdings, with 90.93% of the stock now owned by hedge funds and institutional investors.
• Crown Holdings reported a quarterly EPS of $2.15, exceeding estimates, and announced a quarterly dividend of $0.26 per share.

Assenagon Asset Management S.A. boosted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 4,180.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 307,710 shares of the industrial products company's stock after purchasing an additional 300,521 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.26% of Crown worth $31,688,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CCK. Bank of New York Mellon Corp increased its stake in shares of Crown by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company's stock worth $279,836,000 after purchasing an additional 167,252 shares in the last quarter. AQR Capital Management LLC lifted its stake in Crown by 3.7% in the 1st quarter. AQR Capital Management LLC now owns 1,768,476 shares of the industrial products company's stock valued at $156,988,000 after buying an additional 63,395 shares in the last quarter. Invesco Ltd. boosted its holdings in Crown by 412.2% in the 1st quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock worth $153,464,000 after buying an additional 1,383,624 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Crown by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,637,155 shares of the industrial products company's stock worth $146,117,000 after buying an additional 83,523 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of Crown by 5.0% during the second quarter. Swedbank AB now owns 1,550,525 shares of the industrial products company's stock valued at $159,673,000 after acquiring an additional 73,959 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Insider Buying and Selling

In other news, CAO Gerard H. Gifford sold 8,222 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total value of $846,290.46. Following the transaction, the chief accounting officer owned 122,585 shares of the company's stock, valued at approximately $12,617,674.05. The trade was a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 37,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $100.56, for a total value of $3,720,720.00. Following the completion of the transaction, the chief executive officer directly owned 462,056 shares in the company, valued at approximately $46,464,351.36. The trade was a 7.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 58,222 shares of company stock worth $5,873,770. Corporate insiders own 0.90% of the company's stock.

Analyst Ratings Changes

CCK has been the subject of several research reports. Truist Financial upgraded Crown from a "hold" rating to a "buy" rating and set a $118.00 price target for the company in a research report on Friday, September 5th. JPMorgan Chase & Co. upped their target price on shares of Crown from $108.00 to $112.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Robert W. Baird increased their target price on shares of Crown from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Citigroup restated a "buy" rating on shares of Crown in a research report on Wednesday, July 23rd. Finally, Mizuho upped their price objective on shares of Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $120.67.

Crown Trading Down 0.3%

NYSE CCK traded down $0.28 during trading on Monday, hitting $94.38. The stock had a trading volume of 782,803 shares, compared to its average volume of 1,274,147. The company has a market capitalization of $10.98 billion, a PE ratio of 19.83, a PEG ratio of 1.45 and a beta of 0.73. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. The firm has a 50 day moving average price of $99.54 and a 200 day moving average price of $96.71. Crown Holdings, Inc. has a twelve month low of $75.98 and a twelve month high of $109.48.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.29. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. Crown had a return on equity of 27.15% and a net margin of 4.64%.The business's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 earnings per share. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. As a group, equities research analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Crown's payout ratio is presently 21.85%.

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.