Crown Holdings, Inc. (CCK) Shares Sold by Pinebridge Investments L.P.
Pinebridge Investments L.P. decreased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,042 shares of the industrial products company’s stock after selling 8,303 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.18% of Crown Holdings worth $14,440,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Planning lifted its holdings in Crown Holdings by 1.3% during the 2nd quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after buying an additional 23 shares in the last quarter. Cadence Capital Management LLC bought a new stake in Crown Holdings during the 1st quarter valued at about $200,000. Daiwa Securities Group Inc. lifted its holdings in Crown Holdings by 14.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the industrial products company’s stock valued at $207,000 after buying an additional 500 shares in the last quarter. Two Sigma Securities LLC bought a new stake in Crown Holdings during the 1st quarter valued at about $207,000. Finally, Acrospire Investment Management LLC lifted its holdings in Crown Holdings by 1,990.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,181 shares of the industrial products company’s stock valued at $249,000 after buying an additional 3,981 shares in the last quarter. Institutional investors own 90.12% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of Crown Holdings from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research lowered shares of Crown Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 price objective (up previously from $63.00) on shares of Crown Holdings in a report on Friday, July 14th. Deutsche Bank AG reiterated a “hold” rating and set a $61.00 price objective (up previously from $58.00) on shares of Crown Holdings in a report on Tuesday, July 18th. Finally, ValuEngine lowered shares of Crown Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Crown Holdings has a consensus rating of “Hold” and an average price target of $64.56.
Crown Holdings, Inc. (NYSE CCK) traded down 0.98% on Tuesday, reaching $60.57. 169,331 shares of the company’s stock were exchanged. Crown Holdings, Inc. has a one year low of $51.57 and a one year high of $61.39. The firm has a 50 day moving average of $58.74 and a 200-day moving average of $56.99. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 17.35 and a beta of 1.39.
Crown Holdings (NYSE:CCK) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. Equities research analysts forecast that Crown Holdings, Inc. will post $4.03 EPS for the current fiscal year.
Crown Holdings Profile
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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