iSAM Funds UK Ltd Buys Shares of 6,685 Crown Holdings, Inc. (NYSE:CCK)

iSAM Funds UK Ltd bought a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the third quarter, Holdings Channel reports. The fund bought 6,685 shares of the industrial products company’s stock, valued at approximately $641,000.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd grew its holdings in Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new position in Crown during the 3rd quarter valued at about $44,000. Blue Trust Inc. grew its holdings in shares of Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 385 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Crown during the third quarter worth about $48,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

CCK has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Truist Financial boosted their price objective on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Mizuho set a $110.00 price objective on Crown in a report on Friday, October 18th. Finally, Barclays boosted their target price on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $93.00, for a total value of $697,500.00. Following the transaction, the chief executive officer now owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,006 shares of company stock worth $2,478,049 over the last quarter. 0.90% of the stock is owned by corporate insiders.

Crown Stock Performance

Shares of CCK stock opened at $88.34 on Friday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The stock has a 50 day moving average price of $93.11 and a two-hundred day moving average price of $87.31. The company has a market capitalization of $10.57 billion, a P/E ratio of 109.06, a PEG ratio of 2.04 and a beta of 0.83.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Analysts expect that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Crown’s dividend payout ratio is presently 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.