Shell Asset Management Co. Sells 362 Shares of Crown Holdings, Inc. (NYSE:CCK)

Shell Asset Management Co. decreased its position in Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,150 shares of the industrial products company’s stock after selling 362 shares during the period. Shell Asset Management Co.’s holdings in Crown were worth $644,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Crown in the first quarter valued at about $27,000. Covestor Ltd bought a new position in Crown in the fourth quarter valued at about $33,000. Industrial Alliance Investment Management Inc. bought a new position in Crown in the fourth quarter valued at about $89,000. McIlrath & Eck LLC boosted its holdings in Crown by 11.8% in the fourth quarter. McIlrath & Eck LLC now owns 946 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 100 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Crown by 356.3% in the fourth quarter. Bessemer Group Inc. now owns 1,460 shares of the industrial products company’s stock valued at $162,000 after acquiring an additional 1,140 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

Insider Buying and Selling at Crown

In other news, insider Djalma Novaes, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $105.38, for a total transaction of $526,900.00. Following the sale, the insider now owns 80,328 shares in the company, valued at approximately $8,464,964.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CCK shares. Morgan Stanley decreased their target price on Crown from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, July 26th. Wells Fargo & Company decreased their target price on Crown from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Citigroup decreased their target price on Crown from $130.00 to $126.00 in a research report on Friday, July 22nd. Truist Financial decreased their target price on Crown from $147.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Crown from $137.00 to $135.00 in a research report on Tuesday, July 19th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.45.

Crown Price Performance

Shares of CCK opened at $100.67 on Tuesday. The firm has a market capitalization of $12.38 billion, a PE ratio of -33.67, a P/E/G ratio of 2.62 and a beta of 1.13. The stock has a 50 day simple moving average of $96.40 and a 200 day simple moving average of $109.75. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.59 and a current ratio of 0.99. Crown Holdings, Inc. has a 52-week low of $85.85 and a 52-week high of $130.42.

Crown (NYSE:CCK – Get Rating) last released its earnings results on Wednesday, July 20th. The industrial products company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.03 by $0.07. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Crown had a positive return on equity of 39.24% and a negative net margin of 3.07%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.14 EPS. Sell-side analysts predict that Crown Holdings, Inc. will post 7.76 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, August 10th. Crown’s payout ratio is -29.43%.

Crown Profile

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Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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