QRG Capital Management Inc. Purchases New Stake in Crown Holdings, Inc. (NYSE:CCK)

QRG Capital Management Inc. acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 2,189 shares of the industrial products company’s stock, valued at approximately $210,000.

A number of other large investors also recently added to or reduced their stakes in CCK. Nisa Investment Advisors LLC lifted its holdings in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after buying an additional 158 shares during the period. GAMMA Investing LLC lifted its stake 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 valued at $30,000 after purchasing an additional 163 shares during the period. Fifth Third Bancorp boosted its position in shares of Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 176 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Crown by 2.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after purchasing an additional 183 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after buying an additional 209 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Price Performance

Shares of CCK opened at $94.00 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46. The stock has a market capitalization of $11.24 billion, a P/E ratio of 116.04, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a 50 day moving average of $93.58 and a 200-day moving average of $86.40.

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, beating analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, equities research analysts forecast that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.06%. Crown’s payout ratio is presently 123.46%.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,506 shares of company stock valued at $3,157,399. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CCK. Mizuho set a $110.00 target price on Crown in a research report on Friday, October 18th. Bank of America upped their target price on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Loop Capital lifted their price target on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Finally, Wells Fargo & Company raised their price objective on Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

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.