Community Trust & Investment Co. Sells 456 Shares of Crown Holdings, Inc. (NYSE:CCK)

Community Trust & Investment Co. lessened its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,606 shares of the industrial products company’s stock after selling 456 shares during the quarter. Community Trust & Investment Co. owned 0.08% of Crown worth $8,479,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Crown by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,764,656 shares of the industrial products company’s stock worth $1,471,641,000 after acquiring an additional 143,049 shares during the period. BlackRock Inc. raised its stake in shares of Crown by 6.2% in the first quarter. BlackRock Inc. now owns 7,052,732 shares of the industrial products company’s stock worth $583,332,000 after buying an additional 410,225 shares during the period. FMR LLC lifted its position in shares of Crown by 8.1% during the 1st quarter. FMR LLC now owns 4,645,714 shares of the industrial products company’s stock valued at $384,247,000 after buying an additional 347,405 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Crown by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 3,966,350 shares of the industrial products company’s stock valued at $328,057,000 after acquiring an additional 43,186 shares during the period. Finally, Nomura Holdings Inc. lifted its holdings in Crown by 202.1% during the first quarter. Nomura Holdings Inc. now owns 3,019,873 shares of the industrial products company’s stock valued at $249,774,000 after purchasing an additional 2,020,200 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors.

Crown Trading Up 0.1 %

Shares of Crown stock traded up $0.09 on Tuesday, reaching $90.39. The company had a trading volume of 108,281 shares, compared to its average volume of 1,116,264. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 2.92 and a beta of 1.10. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.30 and a quick ratio of 0.76. The firm’s 50-day moving average price is $90.36 and its two-hundred day moving average price is $85.11. Crown Holdings, Inc. has a 1 year low of $66.00 and a 1 year high of $96.35.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.65 by $0.03. Crown had a net margin of 3.84% and a return on equity of 27.45%. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the firm earned $2.10 earnings per share. Crown’s quarterly revenue was down 11.4% compared to the same quarter last year. As a group, research analysts predict that Crown Holdings, Inc. will post 6.19 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Wednesday, August 9th. Crown’s dividend payout ratio (DPR) is currently 24.24%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CCK. Wells Fargo & Company raised their price target on Crown from $80.00 to $86.00 in a report on Wednesday, July 26th. Bank of America cut their price objective on shares of Crown from $106.00 to $101.00 in a report on Monday, July 10th. Jefferies Financial Group upped their target price on shares of Crown from $108.00 to $124.00 in a research report on Tuesday, July 18th. Royal Bank of Canada lifted their price target on shares of Crown from $97.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, StockNews.com raised shares of Crown from a “sell” rating to a “hold” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average price target of $103.38.

Insider Buying and Selling at Crown

In other news, VP Christy L. Kalaus sold 1,914 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $90.67, for a total value of $173,542.38. Following the sale, the vice president now directly owns 7,500 shares in the company, valued at $680,025. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Christy L. Kalaus sold 1,914 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $90.67, for a total value of $173,542.38. Following the transaction, the vice president now directly owns 7,500 shares in the company, valued at $680,025. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gerard H. Gifford sold 9,784 shares of Crown stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $92.24, for a total transaction of $902,476.16. Following the sale, the chief operating officer now owns 123,399 shares of the company’s stock, valued at approximately $11,382,323.76. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

About Crown

Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.