3,865 Shares in Crown Holdings, Inc. (NYSE:CCK) Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 3,865 shares of the industrial products company’s stock, valued at approximately $366,000.

Several other hedge funds have also bought and sold shares of CCK. MayTech Global Investments LLC bought a new position in shares of Crown during the third quarter valued at approximately $204,000. M.D. Sass LLC grew its stake in shares of Crown by 3.4% in the 3rd quarter. M.D. Sass LLC now owns 867,620 shares of the industrial products company’s stock worth $83,187,000 after buying an additional 28,585 shares during the last quarter. BNP Paribas Financial Markets increased its position in Crown by 34.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 44,691 shares of the industrial products company’s stock valued at $4,285,000 after buying an additional 11,540 shares in the last quarter. Brooklyn Investment Group bought a new stake in Crown in the third quarter worth $44,000. Finally, FMR LLC grew its stake in shares of Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after acquiring an additional 749,085 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CCK. Morgan Stanley lifted their price target on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Robert W. Baird upped their target price on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Mizuho set a $110.00 price target on shares of Crown in a research report on Friday, October 18th. Citigroup upped their price objective on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial lifted their target price on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average price target of $106.62.

Crown Price Performance

Shares of NYSE:CCK opened at $92.09 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The stock has a market capitalization of $11.02 billion, a PE ratio of 113.69, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85. The firm’s 50 day moving average price is $93.53 and its 200-day moving average price is $87.11. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46.

Crown (NYSE:CCK) last released its quarterly earnings results 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 business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Equities research analysts expect that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Thursday, November 14th. Crown’s payout ratio is 123.46%.

Insider Transactions 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 shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock valued at $3,157,399 over the last quarter. 0.90% of the stock is currently owned by company insiders.

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.