SG Americas Securities LLC Purchases Shares of 19,316 Crown Holdings, Inc. (NYSE:CCK)

SG Americas Securities LLC bought a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,316 shares of the industrial products company's stock, valued at approximately $1,724,000.

Several other institutional investors and hedge funds have also modified their holdings of CCK. TD Private Client Wealth LLC lifted its position in Crown by 4.6% during the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company's stock worth $237,000 after acquiring an additional 125 shares during the last quarter. Bessemer Group Inc. boosted its stake in Crown by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company's stock valued at $2,816,000 after purchasing an additional 138 shares during the period. Metis Global Partners LLC grew its holdings in Crown by 3.8% in the 4th quarter. Metis Global Partners LLC now owns 5,349 shares of the industrial products company's stock valued at $442,000 after buying an additional 194 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Crown by 2.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,372 shares of the industrial products company's stock worth $775,000 after buying an additional 200 shares during the period. Finally, iA Global Asset Management Inc. lifted its holdings in shares of Crown by 3.8% during the fourth quarter. iA Global Asset Management Inc. now owns 5,530 shares of the industrial products company's stock worth $457,000 after buying an additional 204 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Stock Performance

Shares of CCK stock traded up $1.68 on Monday, reaching $101.53. The stock had a trading volume of 883,559 shares, compared to its average volume of 1,232,196. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $102.00. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 1.56 and a beta of 0.76. The firm's 50-day moving average is $94.11 and its two-hundred day moving average is $89.34. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK - Get Free Report) last posted its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping 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 business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm earned $1.02 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. On average, research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, May 15th. Crown's payout ratio is 22.37%.

Insider Activity

In other news, VP Christy L. Kalaus sold 2,130 shares of the firm's stock in a transaction on 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 owns 4,500 shares of the company's stock, valued at approximately $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 7,000 shares of the firm's stock in a transaction 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 transaction, the chief operating officer now directly 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. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CCK. Mizuho upped their price objective on shares of Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen downgraded Crown from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Truist Financial lowered their price objective on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. UBS Group lifted their price target on shares of Crown from $109.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Barclays increased their price objective on shares of Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $110.45.

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.