Lyrical Asset Management LP Raises Stock Position in Crown Holdings, Inc. $CCK

Key Points

• Lyrical Asset Management LP increased its stake in Crown Holdings by 23.4% in Q1, now owning approximately 62,894 shares worth about $5.6 million.
• Crown Holdings reported a Q2 earnings per share of $2.15, surpassing estimates by $0.29, and generated $3.15 billion in revenue, a 3.6% increase year-over-year.
• The company declared a quarterly dividend of $0.26 per share, set to be paid on August 21st, reflecting a 1.0% dividend yield.

Lyrical Asset Management LP lifted its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,894 shares of the industrial products company's stock after acquiring an additional 11,924 shares during the quarter. Lyrical Asset Management LP owned approximately 0.05% of Crown worth $5,614,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CCK. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Crown by 155.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,793 shares of the industrial products company's stock worth $158,000 after acquiring an additional 1,091 shares in the last quarter. GAMMA Investing LLC boosted its stake in Crown by 110.3% during the 1st quarter. GAMMA Investing LLC now owns 1,201 shares of the industrial products company's stock valued at $107,000 after purchasing an additional 630 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Crown during the 1st quarter valued at about $820,000. Nisa Investment Advisors LLC boosted its stake in shares of Crown by 4.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock worth $256,000 after buying an additional 115 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Crown by 1.6% in the 1st quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company's stock worth $1,222,000 after buying an additional 215 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Crown

In related news, CAO Gerard H. Gifford sold 8,222 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the sale, the chief accounting officer owned 122,585 shares in the company, valued at approximately $12,617,674.05. This trade represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by company insiders.

Crown Trading Up 0.8%

Shares of Crown stock traded up $0.7940 during trading on Tuesday, reaching $99.6440. 162,074 shares of the stock were exchanged, compared to its average volume of 1,278,397. 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 stock's fifty day moving average is $103.22 and its 200 day moving average is $95.13. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating 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 net margin of 4.64% and a return on equity of 27.15%. The business's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $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 expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Crown's dividend payout ratio (DPR) is 21.85%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CCK. Wells Fargo & Company boosted their target price on Crown from $101.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Citigroup reissued a "buy" rating on shares of Crown in a report on Wednesday, July 23rd. Mizuho upped their price target on shares of Crown from $110.00 to $127.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. UBS Group upped their price target on shares of Crown from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Loop Capital upped their price target on shares of Crown from $129.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Crown presently has an average rating of "Moderate Buy" and a consensus price target of $120.67.

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.