Amalgamated Bank Sells 522 Shares of Crown Holdings, Inc. (NYSE:CCK)

Amalgamated Bank lessened its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,569 shares of the industrial products company’s stock after selling 522 shares during the period. Amalgamated Bank owned 0.06% of Crown worth $6,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC increased its stake in Crown by 18.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 22,051 shares of the industrial products company’s stock valued at $2,031,000 after acquiring an additional 3,494 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Crown by 62.4% in the 4th quarter. Natixis Advisors L.P. now owns 349,266 shares of the industrial products company’s stock valued at $32,163,000 after purchasing an additional 134,250 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of Crown by 2.9% during the 4th quarter. New York Life Investment Management LLC now owns 13,593 shares of the industrial products company’s stock worth $1,252,000 after buying an additional 380 shares in the last quarter. Howe & Rusling Inc. lifted its position in shares of Crown by 202.5% during the 4th quarter. Howe & Rusling Inc. now owns 96,859 shares of the industrial products company’s stock worth $8,920,000 after buying an additional 64,844 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Crown by 7.3% in the fourth quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock valued at $473,039,000 after buying an additional 350,265 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total value of $1,916,550.00. Following the transaction, the chief executive officer now directly owns 616,178 shares in the company, valued at approximately $52,486,042.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CCK has been the subject of several research analyst reports. Truist Financial reissued a “hold” rating and set a $88.00 target price (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Morgan Stanley assumed coverage on shares of Crown in a research note on Monday, March 18th. They set an “equal weight” rating and a $87.00 target price on the stock. Robert W. Baird increased their price target on Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Royal Bank of Canada reduced their price objective on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Finally, UBS Group began coverage on Crown in a report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 target price for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.29.

Crown Trading Up 0.1 %

Shares of CCK stock opened at $82.45 on Monday. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $96.35. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19. The stock has a 50 day simple moving average of $78.16 and a two-hundred day simple moving average of $82.64. The company has a market cap of $9.96 billion, a P/E ratio of 23.76, a PEG ratio of 2.77 and a beta of 0.88.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.06. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. Crown had a net margin of 3.51% and a return on equity of 23.95%. Crown’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. Research analysts forecast that Crown Holdings, Inc. will post 5.94 earnings per share for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Crown Company Profile

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.