Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Vulcan Value Partners LLC

Key Points

• Vulcan Value Partners LLC reduced its holdings in Crown Holdings, Inc. by 9.5% in Q1, selling 78,520 shares, and now holds around 0.64% of the company, valued at approximately $66.7 million.
• Crown Holdings recently reported $2.15 earnings per share, surpassing expectations and reflecting a 3.6% year-over-year revenue growth with total revenues of $3.15 billion.
• The company announced a quarterly dividend of $0.26, which will be paid to investors of record on August 7th, representing a 1.0% yield based on an annualized rate of $1.04.

Vulcan Value Partners LLC reduced its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 9.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 745,171 shares of the industrial products company's stock after selling 78,520 shares during the quarter. Crown comprises about 1.3% of Vulcan Value Partners LLC's investment portfolio, making the stock its 23rd biggest position. Vulcan Value Partners LLC owned 0.64% of Crown worth $66,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in shares of Crown by 47.6% in the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 107 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Crown by 4.2% in the first quarter. Nisa Investment Advisors LLC now owns 2,858 shares of the industrial products company's stock valued at $256,000 after purchasing an additional 115 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Crown by 0.4% in the fourth 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. Parallel Advisors LLC boosted its holdings in shares of Crown by 33.8% in the first quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 205 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Crown by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company's stock valued at $1,222,000 after purchasing an additional 215 shares during the period. 90.93% of the stock is owned by institutional investors.

Insider Transactions at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction dated 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 directly owned 4,500 shares in the company, valued at $447,345. The trade was a 32.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Gerard H. Gifford sold 8,222 shares of the company'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 transaction, the chief accounting officer owned 122,585 shares in the company, valued at $12,617,674.05. The trade was a 6.29% 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 corporate insiders.

Crown Stock Up 0.2%

Shares of CCK stock traded up $0.20 on Monday, reaching $98.35. 1,402,899 shares of the stock were exchanged, compared to its average volume of 1,300,129. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The business's 50 day moving average price is $102.76 and its 200 day moving average price is $94.15. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.50 and a beta of 0.74. Crown Holdings, Inc. has a twelve month low of $75.98 and a twelve month high of $109.48.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.29. Crown had a net margin of 4.64% and a return on equity of 27.15%. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the previous year, the company earned $1.81 earnings per share. Crown's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 7th. Crown's dividend payout ratio is presently 21.85%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial reiterated a "hold" rating and issued a $118.00 price target (up previously from $117.00) on shares of Crown in a report on Wednesday, July 23rd. Baird R W downgraded Crown from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Robert W. Baird upped their price target on Crown from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on Crown from $108.00 to $112.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Crown presently has a consensus rating of "Moderate Buy" and an average price target 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.