Nuveen Asset Management LLC Sells 1,179,282 Shares of Crown Holdings, Inc. (NYSE:CCK)

Nuveen Asset Management LLC trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 71.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 468,205 shares of the industrial products company's stock after selling 1,179,282 shares during the period. Nuveen Asset Management LLC owned 0.39% of Crown worth $38,716,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CCK. Pacer Advisors Inc. raised its stake in shares of Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock worth $256,762,000 after buying an additional 3,074,791 shares during the last quarter. Norges Bank bought a new stake in shares of Crown during the fourth quarter worth approximately $113,568,000. Metropolis Capital Ltd raised its stake in shares of Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock worth $203,116,000 after buying an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Crown during the fourth quarter worth approximately $66,732,000. Finally, Vulcan Value Partners LLC raised its stake in shares of Crown by 450.5% during 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 during the last quarter. 90.93% of the stock is owned by institutional investors.

Crown Stock Down 1.0%

Shares of Crown stock traded down $1.00 on Friday, hitting $97.08. The company had a trading volume of 913,080 shares, compared to its average volume of 1,219,981. The firm has a market capitalization of $11.30 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $100.24. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The stock has a 50-day moving average of $90.70 and a 200-day moving average of $88.67.

Crown (NYSE:CCK - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The business's quarterly 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 earnings per share. Research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.07%. Crown's dividend payout ratio is 22.37%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CCK shares. Mizuho boosted their price objective on shares of Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Royal Bank of Canada boosted their price objective on shares of Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. UBS Group boosted their price objective on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Barclays boosted their price objective on shares of Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and a consensus target price of $110.45.

Insider Transactions at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the transaction, the vice president now directly owns 4,500 shares in the company, valued at $447,345. This represents a 32.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Gerard H. Gifford sold 7,000 shares of the 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 transaction, the chief operating officer now owns 135,014 shares of the company's stock, valued at approximately $13,096,358. This represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.