Sumitomo Mitsui Trust Group Inc. Has $22.85 Million Stake in Crown Holdings, Inc. (NYSE:CCK)

Sumitomo Mitsui Trust Group Inc. grew its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 255,940 shares of the industrial products company's stock after buying an additional 11,352 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Crown worth $22,845,000 as of its most recent SEC filing.

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

Crown Trading Up 0.9%

Shares of CCK traded up $0.99 during trading hours on Friday, hitting $107.90. 630,682 shares of the stock were exchanged, compared to its average volume of 1,245,717. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $108.05. The business has a 50-day moving average of $99.53 and a 200-day moving average of $90.75. The firm has a market capitalization of $12.56 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 1.84 and a beta of 0.76. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.56.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. Crown had a net margin of 4.62% and a return on equity of 26.98%. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations 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. On average, research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.96%. Crown's payout ratio is currently 22.37%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group lifted their price target on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of Crown from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 28th. Morgan Stanley boosted their target price on shares of Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Royal Bank Of Canada raised their price target on shares of Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Citigroup boosted their price objective on shares of Crown from $119.00 to $129.00 and gave the stock a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $113.27.

Insider Activity at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the firm'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 transaction of $679,000.00. Following the completion of the sale, the chief operating officer owned 135,014 shares of the company's stock, valued at $13,096,358. This trade represents a 4.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christy L. Kalaus sold 2,130 shares of the business'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 transaction, the vice president owned 4,500 shares in the company, valued at $447,345. The trade was a 32.13% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

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.