United Services Automobile Association Makes New Investment in Crown Holdings, Inc. $CCK

Key Points

• United Services Automobile Association has invested approximately $693,000 in Crown Holdings, Inc., acquiring 7,860 shares, as reported in their latest filing with the SEC.
• Several other institutional investors, including Northern Trust and Mirae Asset Global Investments, have also increased their stakes in Crown, with institutional ownership now at 90.93%.
• Crown recently announced a quarterly dividend of $0.26 per share, reflecting an annualized yield of 1.1%, alongside positive quarterly earnings results that surpassed analyst expectations.

United Services Automobile Association purchased a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,860 shares of the industrial products company's stock, valued at approximately $693,000.

A number of other hedge funds have also modified their holdings of CCK. Invesco Ltd. boosted its position in shares of Crown by 412.2% in the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company's stock worth $153,464,000 after purchasing an additional 1,383,624 shares during the period. Nuveen LLC bought a new position in shares of Crown during the first quarter worth $41,360,000. Worldquant Millennium Advisors LLC boosted its position in shares of Crown by 216.3% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 335,902 shares of the industrial products company's stock worth $27,776,000 after acquiring an additional 229,705 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Crown by 30.9% during the first quarter. Russell Investments Group Ltd. now owns 756,002 shares of the industrial products company's stock worth $67,478,000 after acquiring an additional 178,273 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Crown by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company's stock worth $279,836,000 after acquiring an additional 167,252 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CCK shares. Morgan Stanley upped their target price on shares of Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Wall Street Zen lowered shares of Crown from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Citigroup restated a "buy" rating on shares of Crown in a research report on Wednesday, July 23rd. Bank of America upped their target price on shares of Crown from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Truist Financial raised shares of Crown from a "hold" rating to a "buy" rating and set a $118.00 price target on the stock in a research note on Friday, September 5th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.67.

Insider Activity

In related news, CEO Timothy J. Donahue sold 37,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $100.56, for a total value of $3,720,720.00. Following the transaction, the chief executive officer owned 462,056 shares of the company's stock, valued at $46,464,351.36. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Gerard H. Gifford sold 8,222 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the transaction, the chief accounting officer directly owned 122,585 shares in the company, valued at $12,617,674.05. This represents a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,222 shares of company stock worth $5,873,770 in the last ninety days. 0.90% of the stock is currently owned by insiders.

Crown Trading Down 1.1%

Shares of CCK traded down $1.06 during midday trading on Friday, hitting $96.53. The stock had a trading volume of 1,215,202 shares, compared to its average volume of 1,201,631. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48. The firm has a market cap of $11.23 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.49 and a beta of 0.73. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.06 and a quick ratio of 0.69. The stock's 50 day moving average is $101.07 and its 200 day moving average is $96.40.

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

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 7th. Crown's dividend payout ratio (DPR) is currently 21.85%.

Crown 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.