MJP Associates Inc. ADV Has $935,000 Position in Crown Holdings, Inc. (NYSE:CCK)

MJP Associates Inc. ADV boosted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 14.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,566 shares of the industrial products company’s stock after buying an additional 1,615 shares during the quarter. MJP Associates Inc. ADV’s holdings in Crown were worth $935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its position in Crown by 14.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,181 shares of the industrial products company’s stock valued at $109,000 after buying an additional 145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Crown by 5.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 154 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Crown by 6.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 160 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in Crown by 3.7% during the 1st quarter. Verdence Capital Advisors LLC now owns 5,348 shares of the industrial products company’s stock valued at $424,000 after purchasing an additional 193 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in Crown by 1.0% during the 2nd quarter. Gulf International Bank UK Ltd now owns 25,870 shares of the industrial products company’s stock valued at $1,924,000 after purchasing an additional 258 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CCK. Royal Bank of Canada lifted their price target on Crown from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. UBS Group lowered their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Bank of America upped their price target on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their price target on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Robert W. Baird increased their target price on Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.21.

Crown Stock Down 0.4 %

Shares of CCK stock traded down $0.32 during trading hours on Friday, hitting $85.82. 657,206 shares of the company’s stock traded hands, compared to its average volume of 1,159,020. The stock’s fifty day simple moving average is $79.75 and its two-hundred day simple moving average is $79.84. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $94.49. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 2.09 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

Crown (NYSE:CCK) last released its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the business earned $1.68 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, analysts expect that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Crown’s payout ratio is 28.82%.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the transaction, the chief executive officer now directly owns 608,678 shares in the company, valued at approximately $51,737,630. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total transaction of $637,500.00. Following the completion of the sale, the chief executive officer now directly owns 608,678 shares in the company, valued at approximately $51,737,630. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director James H. Miller sold 9,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, the director now owns 12,884 shares of the company’s stock, valued at $1,068,470.12. The disclosure for this sale can be found here. Insiders sold a total of 39,000 shares of company stock worth $3,303,195 in the last three months. 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.