Crown Holdings, Inc. (NYSE:CCK) Stake Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,135,062 shares of the industrial products company's stock after acquiring an additional 167,252 shares during the quarter. Bank of New York Mellon Corp owned 2.68% of Crown worth $279,836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CCK. Farther Finance Advisors LLC raised its stake in Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after buying an additional 256 shares in the last quarter. Colonial Trust Co SC raised its holdings in Crown by 88.0% during the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock worth $62,000 after purchasing an additional 352 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of 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 buying an additional 205 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Crown by 325.1% in the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock valued at $70,000 after buying an additional 647 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Crown in the 4th quarter valued at about $91,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Trading Down 0.4%

Shares of CCK traded down $0.44 during mid-day trading on Thursday, hitting $107.52. The company had a trading volume of 772,449 shares, compared to its average volume of 1,237,905. The business's 50-day simple moving average is $100.73 and its 200-day simple moving average is $91.43. The company has a quick ratio of 0.56, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. Crown Holdings, Inc. has a 1-year low of $71.62 and a 1-year high of $109.48. The stock has a market cap of $12.51 billion, a PE ratio of 23.12, a P/E/G ratio of 1.86 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.45. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.82 billion. Crown had a net margin of 4.62% and a return on equity of 26.98%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. Sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.97%. Crown's dividend payout ratio (DPR) is 22.37%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CCK shares. Citigroup increased their price objective on Crown from $119.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Royal Bank Of Canada raised their price target on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Truist Financial dropped their price target on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Bank of America increased their price objective on Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Barclays upped their price target on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $115.73.

Insider Buying and Selling

In related news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction on Friday, May 2nd. The shares were 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 owned 135,014 shares in the company, valued at approximately $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christy L. Kalaus sold 2,130 shares of Crown 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 completion of the sale, the vice president owned 4,500 shares of the company's stock, valued at approximately $447,345. This trade represents a 32.13% decrease in their position. The disclosure for this sale can be found here. Company 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.