Crown Holdings, Inc. (NYSE:CCK) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Crown Holdings, Inc. (NYSE:CCK) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,117 shares of the industrial products company’s stock after selling 3,751 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Crown worth $9,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Qsemble Capital Management LP increased its position in Crown by 31.5% during the 3rd quarter. Qsemble Capital Management LP now owns 11,113 shares of the industrial products company’s stock worth $1,066,000 after purchasing an additional 2,659 shares in the last quarter. Bank of Montreal Can boosted its stake in Crown by 672.7% in the 3rd quarter. Bank of Montreal Can now owns 111,426 shares of the industrial products company’s stock worth $10,557,000 after buying an additional 97,006 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Crown by 6.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 21,201 shares of the industrial products company’s stock valued at $2,033,000 after acquiring an additional 1,353 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Crown by 9.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,172 shares of the industrial products company’s stock worth $879,000 after acquiring an additional 800 shares during the period. Finally, Algert Global LLC purchased a new position in Crown during the third quarter worth approximately $468,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Loop Capital increased their price target on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays boosted their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Mizuho set a $110.00 target price on shares of Crown in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Insiders Place Their Bets

In other news, Director James H. Miller sold 1,006 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. This trade represents a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’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 transaction of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. This represents a 1.31 % decrease in their position. 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. Insiders own 0.90% of the company’s stock.

Crown Price Performance

Shares of NYSE CCK opened at $92.03 on Wednesday. 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 company has a market capitalization of $11.01 billion, a price-to-earnings ratio of 113.61, a price-to-earnings-growth ratio of 2.05 and a beta of 0.84. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46. The business has a 50 day simple moving average of $93.40 and a 200-day simple moving average of $87.24.

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 analysts’ consensus estimates of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, equities research analysts expect that Crown Holdings, Inc. will post 6.34 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. Shareholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Thursday, November 14th. Crown’s payout ratio is 123.46%.

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.