Bank of Montreal Can Has $10.56 Million Position in Crown Holdings, Inc. (NYSE:CCK)

Bank of Montreal Can grew its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 672.7% during the third quarter, HoldingsChannel.com reports. The firm owned 111,426 shares of the industrial products company’s stock after purchasing an additional 97,006 shares during the period. Bank of Montreal Can’s holdings in Crown were worth $10,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCK. GAMMA Investing LLC boosted its position 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 period. Covestor Ltd increased its position in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares during the period. Blue Trust Inc. raised its stake 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 valued at $48,000 after acquiring an additional 385 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Crown during the third quarter worth $48,000. Finally, Fifth Third Bancorp grew its stake in shares of Crown by 36.1% in the second 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. 90.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares in the company, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,506 shares of company stock worth $3,157,399. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CCK. Mizuho set a $110.00 target price on Crown in a report on Friday, October 18th. Loop Capital raised their price objective on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup increased their target price on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. 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 report on Monday, October 21st. Finally, Wells Fargo & Company lifted their target price on shares of 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 issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Trading Down 1.0 %

NYSE:CCK opened at $92.09 on Monday. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of 113.69, a PEG ratio of 2.04 and a beta of 0.85. The firm has a fifty day simple moving average of $93.53 and a two-hundred day simple moving average of $87.13.

Crown (NYSE:CCK) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.07 billion. Analysts expect that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Announces Dividend

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

Crown 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.