Rhumbline Advisers Decreases Position in Crown Holdings, Inc. (NYSE:CCK)

Rhumbline Advisers lowered its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 341,100 shares of the industrial products company's stock after selling 2,760 shares during the quarter. Rhumbline Advisers owned 0.29% of Crown worth $30,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CCK. Farther Finance Advisors LLC increased its position in shares of Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 256 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 117 shares during the period. Colonial Trust Co SC raised its position in Crown by 88.0% during the 4th quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 352 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Crown by 33.8% in the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock worth $72,000 after buying an additional 205 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock worth $68,000 after buying an additional 269 shares during the last quarter. Institutional investors own 90.93% of the company's stock.

Crown Stock Performance

Shares of Crown stock traded up $2.32 on Friday, hitting $99.99. 1,174,529 shares of the company's stock were exchanged, compared to its average volume of 1,228,977. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $100.24. The company has a 50-day simple moving average of $92.30 and a 200-day simple moving average of $89.02. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The stock has a market capitalization of $11.64 billion, a PE ratio of 28.09, a PEG ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. Crown's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. As a group, equities analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, May 15th. Crown's dividend payout ratio is currently 22.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Mizuho raised their price target on Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Barclays upped their target price on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Royal Bank of Canada upped their target price on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Truist Financial lowered their target price on shares of Crown from $107.00 to $97.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Crown presently has a consensus rating of "Moderate Buy" and an average price target of $110.45.

Insider Transactions at Crown

In other 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 transaction of $211,743.30. Following the completion of the transaction, the vice president now owns 4,500 shares in the company, valued at $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the sale, the chief operating officer now directly owns 135,014 shares in the company, valued at $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. 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.