Renaissance Group LLC Has $527,000 Position in Crown Holdings, Inc. (NYSE:CCK)

Renaissance Group LLC cut its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,712 shares of the industrial products company’s stock after selling 1,689 shares during the quarter. Renaissance Group LLC’s holdings in Crown were worth $527,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in shares of Crown during the fourth quarter valued at approximately $26,000. Quest Partners LLC acquired a new position in Crown in the fourth quarter worth $34,000. Fifth Third Bancorp grew its holdings in shares of Crown by 46.0% during the third quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 318 shares during the last quarter. Picton Mahoney Asset Management increased its position in Crown by 53.9% in the 3rd quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 363 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Crown by 28.3% in the fourth quarter. CWM LLC now owns 1,627 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 359 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Down 0.7 %

Crown stock traded down $0.61 during midday trading on Wednesday, reaching $85.12. The stock had a trading volume of 30,852 shares, compared to its average volume of 1,178,541. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year 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 firm’s fifty day simple moving average is $80.02 and its 200-day simple moving average is $82.99. The stock has a market capitalization of $10.28 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 2.86 and a beta of 0.88.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the company earned $1.20 earnings per share. The firm’s revenue was down 6.4% compared to the same quarter last year. As a group, analysts expect that Crown Holdings, Inc. will post 5.95 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be paid 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 1.17%. Crown’s dividend payout ratio is 28.82%.

Analyst Ratings Changes

Several research firms recently issued reports on CCK. JPMorgan Chase & Co. raised their price target on Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Loop Capital lifted their price target on shares of Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Truist Financial restated a “hold” rating and issued a $88.00 price objective (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Mizuho decreased their target price on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Finally, Morgan Stanley initiated coverage on shares of Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price for the company. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total transaction of $637,500.00. Following the completion of the transaction, the chief executive officer now directly owns 608,678 shares of the company’s stock, valued at $51,737,630. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total transaction of $637,500.00. Following the sale, the chief executive officer now directly owns 608,678 shares of the company’s stock, valued at $51,737,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 22,500 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the sale, the chief executive officer now owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

About Crown

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.