Crown Holdings, Inc. (NYSE:CCK) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC raised its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 64.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,387 shares of the industrial products company's stock after purchasing an additional 2,890 shares during the quarter. Pallas Capital Advisors LLC's holdings in Crown were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after buying an additional 256 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after buying an additional 117 shares in the last quarter. Colonial Trust Co SC raised its holdings in shares of Crown by 88.0% in the 4th quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 352 shares in the last quarter. Parallel Advisors LLC raised its stake in Crown by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock worth $72,000 after acquiring an additional 205 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Crown by 48.6% in the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock valued at $68,000 after purchasing an additional 269 shares during the period. Institutional investors own 90.93% of the company's stock.

Crown Price Performance

Shares of NYSE:CCK traded down $1.63 during trading hours on Friday, hitting $99.78. 803,937 shares of the company's stock traded hands, compared to its average volume of 1,232,931. The company's fifty day simple moving average is $94.11 and its two-hundred day simple moving average is $89.39. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The company has a market cap of $11.61 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $102.00.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The business's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.02 earnings per share. As a group, equities analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, May 15th. Crown's dividend payout ratio (DPR) is presently 22.37%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial reduced their price target on shares of Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. UBS Group raised their price target on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company lifted their price objective on shares of Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded shares of Crown from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Royal Bank of Canada boosted their target price on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and an average price target of $110.45.

Insider Activity

In related news, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the sale, the vice president now directly owns 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer now owns 135,014 shares of the company's stock, valued at approximately $13,096,358. This trade represents a 4.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

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.