Great Lakes Advisors LLC Takes $9.78 Million Position in Crown Holdings, Inc. $CCK

Key Points

• Great Lakes Advisors LLC has acquired a new stake in Crown Holdings, Inc., purchasing 109,541 shares valued at approximately $9.78 million, which represents about 0.09% ownership of the company.
• Several institutional investors, including Northern Trust Corp and Mirae Asset Global Investments, have increased their positions in Crown, with Northern Trust boosting its holdings by 13.7% to own 1.24 million shares valued at over $110 million.
• Analyst upgrades have been positive for Crown Holdings, with multiple firms, including Mizuho and UBS Group, increasing their target prices, reflecting a consensus rating of "Moderate Buy".

Great Lakes Advisors LLC acquired a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 109,541 shares of the industrial products company's stock, valued at approximately $9,778,000. Great Lakes Advisors LLC owned about 0.09% of Crown at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Northern Trust Corp boosted its holdings in shares of Crown by 13.7% in the 1st quarter. Northern Trust Corp now owns 1,242,250 shares of the industrial products company's stock valued at $110,883,000 after acquiring an additional 149,339 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $158,000 after purchasing an additional 1,091 shares during the period. GAMMA Investing LLC lifted its stake in shares of Crown by 110.3% in 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 period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Crown in the 1st quarter valued at $820,000. Finally, Nisa Investment Advisors LLC lifted 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 valued at $256,000 after purchasing an additional 115 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 13,000 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $100.52, for a total transaction of $1,306,760.00. Following the completion of the sale, the chief executive officer owned 449,056 shares of the company's stock, valued at $45,139,109.12. This represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Gerard H. Gifford sold 8,222 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the sale, the chief accounting officer directly owned 122,585 shares of the company's stock, valued at $12,617,674.05. The trade was a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,222 shares of company stock valued at $5,873,770 in the last ninety days. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Citigroup reiterated a "buy" rating on shares of Crown in a research note on Wednesday, July 23rd. Mizuho boosted their target price on shares of Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. UBS Group boosted their target price on shares of Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Bank of America boosted their target price on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Loop Capital boosted their target price on shares of Crown from $129.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.67.

Crown Stock Performance

NYSE:CCK opened at $94.10 on Tuesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06. The company has a fifty day moving average of $101.97 and a two-hundred day moving average of $96.23. The stock has a market capitalization of $10.95 billion, a PE ratio of 19.77, a P/E/G ratio of 1.44 and a beta of 0.73. Crown Holdings, Inc. has a fifty-two week low of $75.98 and a fifty-two week high of $109.48.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.29. The company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $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, research analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Crown's dividend payout ratio is presently 21.85%.

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.

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