Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys New Shares in Crown Holdings, Inc. (NYSE:CCK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Crown Holdings, Inc. (NYSE:CCK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 58,055 shares of the industrial products company’s stock, valued at approximately $5,043,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CCK. Nomura Holdings Inc. raised its stake in Crown by 202.1% in 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 buying an additional 2,020,200 shares in the last quarter. Norges Bank acquired a new stake in Crown in the fourth quarter valued at $123,506,000. Goldman Sachs Group Inc. raised its stake in Crown by 78.7% in the second quarter. Goldman Sachs Group Inc. now owns 1,429,818 shares of the industrial products company’s stock valued at $131,787,000 after buying an additional 629,607 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Crown by 87.1% in the second quarter. Bank of New York Mellon Corp now owns 1,210,225 shares of the industrial products company’s stock valued at $105,132,000 after buying an additional 563,226 shares in the last quarter. Finally, Barclays PLC raised its stake in Crown by 322.4% in the first quarter. Barclays PLC now owns 577,544 shares of the industrial products company’s stock valued at $47,768,000 after buying an additional 440,818 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Crown Price Performance

Shares of CCK opened at $84.15 on Thursday. Crown Holdings, Inc. has a twelve month low of $75.61 and a twelve month high of $96.35. The stock’s 50 day moving average is $84.43 and its two-hundred day moving average is $85.93. The firm has a market capitalization of $10.15 billion, a PE ratio of 19.89, a P/E/G ratio of 2.65 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.70 and a debt-to-equity ratio of 2.21.

Crown (NYSE:CCK) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.73 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.73. Crown had a return on equity of 26.84% and a net margin of 4.17%. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Research analysts anticipate that Crown Holdings, Inc. will post 6.04 earnings per share for the current year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, November 7th. Crown’s dividend payout ratio (DPR) is 22.70%.

Analyst Ratings Changes

A number of research firms have recently commented on CCK. Royal Bank of Canada cut their target price on Crown from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. Loop Capital lifted their target price on Crown from $112.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Citigroup lifted their target price on Crown from $103.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Barclays cut their target price on Crown from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Finally, Jefferies Financial Group dropped their price target on Crown from $123.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Crown has an average rating of “Moderate Buy” and an average price target of $101.33.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 13,535 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $80.48, for a total transaction of $1,089,296.80. Following the sale, the chief operating officer now owns 109,864 shares of the company’s stock, valued at approximately $8,841,854.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Gerard H. Gifford sold 13,535 shares of Crown stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $80.48, for a total transaction of $1,089,296.80. Following the completion of the transaction, the chief operating officer now directly owns 109,864 shares in the company, valued at approximately $8,841,854.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gerard H. Gifford sold 9,784 shares of Crown stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $92.24, for a total value of $902,476.16. Following the transaction, the chief operating officer now owns 123,399 shares of the company’s stock, valued at $11,382,323.76. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Crown Profile

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.