MayTech Global Investments LLC Invests $204,000 in Crown Holdings, Inc. (NYSE:CCK)

MayTech Global Investments LLC acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,123 shares of the industrial products company’s stock, valued at approximately $204,000. Crown accounts for approximately 0.0% of MayTech Global Investments LLC’s holdings, making the stock its 28th biggest holding.

A number of other hedge funds have also bought and sold shares of CCK. GAMMA Investing LLC raised its position in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares in the last quarter. Covestor Ltd increased its holdings in Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares in the last quarter. Brooklyn Investment Group acquired a new position in Crown in the third quarter valued at approximately $44,000. Catalyst Capital Advisors LLC acquired a new position in Crown in the third quarter valued at approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Crown during the 3rd quarter worth approximately $55,000. Institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

CCK has been the subject of a number of research reports. Mizuho set a $110.00 price target on shares of Crown in a report on Friday, October 18th. Loop Capital boosted their target price on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Citigroup raised their price objective on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price objective on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Robert W. Baird increased their target price on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Insider Buying and Selling

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

Crown Stock Up 0.9 %

Crown stock opened at $93.02 on Thursday. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The firm’s 50-day simple moving average is $93.59 and its 200 day simple moving average is $87.00. The stock has a market cap of $11.13 billion, a PE ratio of 114.84, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Research analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, November 14th. Crown’s payout ratio is 123.46%.

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.