Crown Holdings, Inc. (NYSE:CCK) Plans Quarterly Dividend of $0.25

Crown Holdings, Inc. (NYSE:CCK) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.25 per share by the industrial products company on Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%.

Crown has a payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Crown to earn $6.77 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 14.8%.

Crown Price Performance

NYSE CCK traded down $0.73 on Thursday, hitting $95.20. The company had a trading volume of 633,129 shares, compared to its average volume of 1,133,305. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The company’s fifty day moving average price is $92.25 and its 200-day moving average price is $84.80. The company has a market capitalization of $11.50 billion, a PE ratio of 27.51, a PEG ratio of 2.19 and a beta of 0.86. Crown has a 12-month low of $69.61 and a 12-month high of $98.46.

Crown (NYSE:CCK) last released its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, analysts predict that Crown will post 6.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the transaction, the chief executive officer now directly owns 586,178 shares in the company, valued at $50,323,381.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock valued at $3,075,799 over the last 90 days. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

CCK has been the subject of a number of research analyst reports. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Truist Financial raised their price objective on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Royal Bank of Canada upped their target price on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday. Robert W. Baird raised their price target on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Barclays increased their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Crown has an average rating of “Moderate Buy” and a consensus target price of $106.62.

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.