Public Employees Retirement System of Ohio Has $9.95 Million Position in Crown Holdings, Inc. $CCK

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Crown Holdings, Inc. by 3.4%, holding 96,579 shares valued at approximately $9.95 million.
• Crown Holdings reported $2.15 earnings per share (EPS) for the last quarter, surpassing analysts’ expectations of $1.86, with quarterly revenue of $3.15 billion.
• The company announced a quarterly dividend of $0.26 per share, reflecting an annualized yield of 1.1% and a payout ratio of 21.85%.

Public Employees Retirement System of Ohio reduced its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,579 shares of the industrial products company's stock after selling 3,432 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.08% of Crown worth $9,946,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CCK. Toronto Dominion Bank lifted its holdings in shares of Crown by 5.7% during the 4th quarter. Toronto Dominion Bank now owns 16,238 shares of the industrial products company's stock valued at $1,343,000 after purchasing an additional 875 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Crown by 112.4% during the 4th quarter. Mackenzie Financial Corp now owns 9,620 shares of the industrial products company's stock valued at $795,000 after purchasing an additional 5,090 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Crown during the 4th quarter valued at about $267,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Crown during the 4th quarter valued at about $7,229,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Crown by 910.6% during the 1st quarter. Versant Capital Management Inc now owns 4,204 shares of the industrial products company's stock valued at $375,000 after purchasing an additional 3,788 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Trading Up 2.3%

Shares of Crown stock opened at $97.14 on Friday. Crown Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48. The stock has a market cap of $11.30 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.49 and a beta of 0.73. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. The business's 50 day moving average is $98.71 and its 200-day moving average is $96.83.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%.The company had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The business's revenue was up 3.6% compared to the same quarter last year. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. Equities research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors 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 payout ratio is presently 21.85%.

Insider Buying and Selling

In related news, CAO Gerard H. Gifford sold 8,222 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 122,585 shares of the company's stock, valued at approximately $12,617,674.05. The trade was a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 37,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total value of $3,720,720.00. Following the transaction, the chief executive officer directly owned 462,056 shares in the company, valued at $46,464,351.36. The trade was a 7.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,222 shares of company stock worth $5,873,770 over the last three months. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup restated a "buy" rating on shares of Crown in a research note on Wednesday, July 23rd. Morgan Stanley boosted their target price on Crown from $114.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. UBS Group boosted their target price on Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Mizuho boosted their target price on Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. boosted their target price on Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.67.

About Crown

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.

Want to see what other hedge funds are holding CCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Holdings, Inc. (NYSE:CCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.