GAMMA Investing LLC Acquires 106,630 Shares of Crown Holdings, Inc. (NYSE:CCK)

GAMMA Investing LLC boosted its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 18,674.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,201 shares of the industrial products company's stock after purchasing an additional 106,630 shares during the quarter. GAMMA Investing LLC owned approximately 0.09% of Crown worth $9,569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CCK. Farther Finance Advisors LLC increased its stake 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 acquiring an additional 256 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after acquiring an additional 117 shares in the last quarter. Colonial Trust Co SC grew its holdings in Crown by 88.0% in 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 during the period. Venturi Wealth Management LLC increased its stake in shares of Crown by 48.6% during 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 in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Crown by 325.1% during the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Stock Performance

Shares of Crown stock traded up $0.70 on Monday, hitting $100.64. 1,394,684 shares of the company's stock were exchanged, compared to its average volume of 1,235,838. 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 stock has a market capitalization of $11.71 billion, a PE ratio of 28.27, a PEG ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $100.97. The company has a 50-day simple moving average of $92.49 and a 200-day simple moving average of $89.07.

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 for the quarter, beating the consensus estimate of $1.22 by $0.45. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. Crown's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. As a group, equities analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid 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 dividend yield of 1.03%. Crown's dividend payout ratio (DPR) is presently 22.37%.

Insider Buying and Selling

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the sale, the chief operating officer now directly owns 135,014 shares of the company's stock, valued at $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the transaction, the vice president now owns 4,500 shares in the company, valued at $447,345. The trade was a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research note on Friday. Barclays raised their price target on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Wells Fargo & Company upped their price target on shares of Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Finally, UBS Group raised their price objective on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $110.45.

Crown Company 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.