Invesco Ltd. Purchases 1,383,624 Shares of Crown Holdings, Inc. $CCK

Key Points

• Invesco Ltd. increased its stake in Crown Holdings by 412.2% during the 1st quarter, owning approximately 1.48% of the company, valued at $153.4 million.
• Crown Holdings, Inc. plans to pay a quarterly dividend of $0.26 per share, with the ex-dividend date on August 7th, representing a 1.0% dividend yield.
• Analyst ratings for Crown Holdings include multiple "overweight" upgrades, with a consensus price target of $120.67 and a current rating of "Moderate Buy."

Invesco Ltd. boosted its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 412.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,719,296 shares of the industrial products company's stock after acquiring an additional 1,383,624 shares during the quarter. Invesco Ltd. owned 1.48% of Crown worth $153,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. raised its position in Crown by 82.6% during the first quarter. Atlas Capital Advisors Inc. now owns 1,826 shares of the industrial products company's stock worth $163,000 after acquiring an additional 826 shares in the last quarter. Forsta AP Fonden raised its position in shares of Crown by 188.4% in the first quarter. Forsta AP Fonden now owns 77,000 shares of the industrial products company's stock valued at $6,873,000 after purchasing an additional 50,300 shares during the period. Deutsche Bank AG raised its position in shares of Crown by 25.9% in the first quarter. Deutsche Bank AG now owns 275,514 shares of the industrial products company's stock valued at $24,592,000 after purchasing an additional 56,664 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Crown in the first quarter valued at about $289,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Crown by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 822,332 shares of the industrial products company's stock valued at $73,401,000 after purchasing an additional 9,858 shares during the period. 90.93% of the stock is owned by institutional investors.

Crown Price Performance

CCK stock traded down $1.33 during mid-day trading on Monday, hitting $99.23. The stock had a trading volume of 565,389 shares, compared to its average volume of 1,282,067. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. Crown Holdings, Inc. has a 52 week low of $75.98 and a 52 week high of $109.48. The firm has a market capitalization of $11.55 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.54 and a beta of 0.74. The firm has a fifty day simple moving average of $103.26 and a 200 day simple moving average of $95.05.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.86 by $0.29. Crown had a net margin of 4.64% and a return on equity of 27.15%. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the firm earned $1.81 EPS. The business's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

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

Insider Buying and Selling at Crown

In related news, CAO Gerard H. Gifford sold 8,222 shares of Crown stock in a transaction that occurred on Friday, July 25th. The shares were 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 in the company, valued at $12,617,674.05. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCK. Robert W. Baird increased their price objective on shares of Crown from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Citigroup reissued a "buy" rating on shares of Crown in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Crown from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Mizuho increased their price objective on shares of Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Bank of America increased their price objective on shares of Crown from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crown has an average rating of "Moderate Buy" and an average price target of $120.67.

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.