Gateway Investment Advisers LLC Purchases 18,042 Shares of Crown Holdings, Inc. (NYSE:CCK)

Gateway Investment Advisers LLC increased its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 52.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,563 shares of the industrial products company's stock after purchasing an additional 18,042 shares during the period. Gateway Investment Advisers LLC's holdings in Crown were worth $4,692,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CCK. Charles Schwab Investment Management Inc. increased its holdings in shares of Crown by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock worth $67,183,000 after buying an additional 8,739 shares during the last quarter. Vontobel Holding Ltd. grew its position in Crown by 9.5% in the fourth quarter. Vontobel Holding Ltd. now owns 22,833 shares of the industrial products company's stock worth $1,888,000 after acquiring an additional 1,988 shares in the last quarter. NewEdge Advisors LLC increased its stake in Crown by 588.0% during the fourth quarter. NewEdge Advisors LLC now owns 5,566 shares of the industrial products company's stock worth $460,000 after acquiring an additional 4,757 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $57,000 after purchasing an additional 117 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Crown by 45.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,161 shares of the industrial products company's stock valued at $2,577,000 after purchasing an additional 9,717 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Stock Up 2.4%

Shares of NYSE CCK opened at $99.99 on Friday. The stock has a 50 day moving average price of $92.49 and a 200 day moving average price of $89.09. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 28.09, a PEG 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 $100.24. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. The business 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%. The business's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS. Sell-side analysts expect 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. Stockholders of record on Thursday, May 15th were given a $0.26 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.04%. Crown's payout ratio is presently 22.37%.

Insider Activity

In other news, 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 value of $211,743.30. Following the transaction, the vice president now directly owns 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction 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 sale, the chief operating officer now 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 disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CCK shares. UBS Group increased their price target on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Barclays increased their target price on shares of Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Wall Street Zen raised shares of Crown from a "buy" rating to a "strong-buy" rating in a research note on Friday. Truist Financial reduced their price objective on shares of Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada boosted their target price on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Two investment 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.45.

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.

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