Crown Holdings, Inc. (NYSE:CCK) Stake Cut by Huntington National Bank

Huntington National Bank lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,343 shares of the industrial products company’s stock after selling 370 shares during the quarter. Huntington National Bank’s holdings in Crown were worth $321,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in Crown by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after buying an additional 412,973 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Crown by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock worth $23,878,000 after acquiring an additional 10,295 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Crown in the third quarter valued at about $613,000. Jensen Investment Management Inc. increased its position in Crown by 7.8% in the 3rd quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock worth $9,676,000 after purchasing an additional 7,280 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Crown by 17.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,766 shares of the industrial products company’s stock worth $1,032,000 after purchasing an additional 1,573 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

CCK has been the topic of a number of research reports. Morgan Stanley increased their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Truist Financial upped their price objective on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Royal Bank of Canada raised their target price on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Bank of America increased their price objective on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup boosted their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown Stock Down 0.2 %

NYSE CCK opened at $89.86 on Friday. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The firm has a market cap of $10.75 billion, a PE ratio of 110.94, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $93.58 and its 200 day simple moving average is $86.55.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.18. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, sell-side analysts forecast that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.11%. Crown’s dividend payout ratio is currently 123.46%.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the transaction, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is currently owned by insiders.

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.