Crown Holdings, Inc. (NYSE:CCK) Position Lifted by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its stake in Crown Holdings, Inc. (NYSE:CCK) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 34,521 shares of the industrial products company’s stock after purchasing an additional 768 shares during the period. Gateway Investment Advisers LLC’s holdings in Crown were worth $2,855,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted 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 worth $30,000 after buying an additional 163 shares during the last quarter. Covestor Ltd lifted its stake in Crown by 156.5% during 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 during the last quarter. Brooklyn Investment Group bought a new stake in Crown during the third quarter valued at $44,000. Catalyst Capital Advisors LLC bought a new position in shares of Crown in the 3rd quarter worth about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Crown in the 3rd quarter valued at about $55,000. Institutional investors own 90.93% of the company’s stock.

Crown Price Performance

NYSE:CCK opened at $85.59 on Friday. 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 has a market cap of $10.24 billion, a P/E ratio of 105.66, a PEG ratio of 1.51 and a beta of 0.86. The company has a fifty day moving average price of $86.75 and a 200 day moving average price of $87.97. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Analysts anticipate that Crown Holdings, Inc. will post 6.35 earnings per share for the current year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.25 dividend. 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 1.17%. Crown’s payout ratio is 123.46%.

Insider Buying and Selling

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the sale, the chief executive officer now owns 563,678 shares in the company, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup raised their price target on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Crown from $88.00 to $86.00 and set an “equal weight” rating for the company in a research report on Thursday. Truist Financial lifted their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Mizuho decreased their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Robert W. Baird lifted their price target on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.46.

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.