NBC Securities Inc. Acquires 3,047 Shares of Crown Holdings, Inc. (NYSE:CCK)

NBC Securities Inc. grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 101,566.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,050 shares of the industrial products company's stock after buying an additional 3,047 shares during the period. NBC Securities Inc.'s holdings in Crown were worth $272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Crown in the 4th quarter worth approximately $113,568,000. Thompson Siegel & Walmsley LLC bought a new position in shares of Crown in the fourth quarter worth $66,732,000. Vulcan Value Partners LLC raised its position in shares of Crown by 450.5% in the fourth quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company's stock worth $68,027,000 after buying an additional 674,072 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Crown by 146.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,008,500 shares of the industrial products company's stock valued at $83,393,000 after buying an additional 599,000 shares during the period. Finally, AQR Capital Management LLC grew its position in Crown by 30.6% during the fourth quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company's stock worth $140,720,000 after buying an additional 399,842 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Trading Up 0.7%

CCK stock traded up $0.70 during trading on Monday, hitting $100.64. 1,394,684 shares of the company traded hands, compared to its average volume of 1,235,838. The company has a 50-day moving average of $92.49 and a 200-day moving average of $89.07. 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 Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $100.97. The firm has a market capitalization of $11.71 billion, a PE ratio of 28.27, a P/E/G ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. Crown had a return on equity of 25.12% and a net margin of 3.59%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the firm posted $1.02 earnings per share. The business's quarterly revenue was up 3.7% compared to the same quarter last year. Analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, May 15th. Crown's dividend payout ratio (DPR) is presently 22.37%.

Analysts Set New Price Targets

CCK has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. UBS Group lifted their target price on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Barclays increased their price target on shares of Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Truist Financial lowered 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 increased their target price on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $110.45.

Insider Buying and Selling at Crown

In related news, VP Christy L. Kalaus sold 2,130 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the sale, the vice president now directly owns 4,500 shares of the company's stock, valued at $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 135,014 shares of the company's stock, valued at $13,096,358. The trade was a 4.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

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.