Edgestream Partners L.P. Buys Shares of 28,681 Crown Holdings, Inc. (NYSE:CCK)

Edgestream Partners L.P. purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 28,681 shares of the industrial products company’s stock, valued at approximately $2,492,000.

Other large investors have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S grew its position in Crown by 101.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 438 shares of the industrial products company’s stock worth $36,000 after buying an additional 221 shares during the period. Tobam purchased a new position in Crown in the 2nd quarter valued at approximately $58,000. Fifth Third Bancorp increased its stake in Crown by 91.9% in the 2nd quarter. Fifth Third Bancorp now owns 691 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 331 shares in the last quarter. Quarry LP purchased a new stake in Crown during the first quarter worth $58,000. Finally, Quadrant Capital Group LLC grew its holdings in Crown by 69.1% in the second quarter. Quadrant Capital Group LLC now owns 1,047 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 95.18% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

CCK has been the topic of several recent research reports. TheStreet lowered shares of Crown from a “b-” rating to a “c+” rating in a research report on Wednesday, November 1st. Barclays dropped their price objective on shares of Crown from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Jefferies Financial Group reduced their target price on Crown from $123.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. StockNews.com raised Crown from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, Wells Fargo & Company dropped their price objective on Crown from $86.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, October 19th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.33.

Crown Stock Performance

NYSE CCK opened at $83.59 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.13 and a quick ratio of 0.70. Crown Holdings, Inc. has a 1-year low of $75.61 and a 1-year high of $96.35. The firm has a market capitalization of $10.08 billion, a P/E ratio of 19.76, a P/E/G ratio of 2.78 and a beta of 1.10. The business’s 50-day simple moving average is $84.06 and its 200-day simple moving average is $85.89.

Crown (NYSE:CCK) last announced its quarterly earnings results 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 net margin of 4.17% and a return on equity of 26.84%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the previous year, the company posted $1.46 earnings per share. Crown’s revenue was down 5.8% compared to the same quarter last year. Equities analysts predict that Crown Holdings, Inc. will post 6.04 EPS for the current year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Tuesday, November 7th. Crown’s dividend payout ratio (DPR) is presently 22.70%.

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.