Ritholtz Wealth Management Increases Stock Position in Crown Holdings, Inc. $CCK

Ritholtz Wealth Management grew its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 42.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 18,543 shares of the industrial products company’s stock after acquiring an additional 5,489 shares during the period. Ritholtz Wealth Management’s holdings in Crown were worth $1,791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CWM LLC grew its holdings in Crown by 73.3% during the 3rd quarter. CWM LLC now owns 72,075 shares of the industrial products company’s stock worth $6,962,000 after acquiring an additional 30,488 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Crown during the 3rd quarter worth $43,417,000. Vinva Investment Management Ltd grew its stake in shares of Crown by 152.9% during the second quarter. Vinva Investment Management Ltd now owns 194,348 shares of the industrial products company’s stock worth $20,393,000 after purchasing an additional 117,494 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Crown in the second quarter valued at $265,000. Finally, Greenland Capital Management LP purchased a new stake in Crown during the 2nd quarter worth about $589,000. 90.93% of the stock is owned by institutional investors.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 29,024 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $105.00, for a total value of $3,047,520.00. Following the sale, the chief executive officer owned 411,556 shares of the company’s stock, valued at approximately $43,213,380. This represents a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Djalma Novaes, Jr. sold 19,754 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $101.02, for a total value of $1,995,549.08. Following the completion of the sale, the chief operating officer directly owned 96,841 shares in the company, valued at approximately $9,782,877.82. The trade was a 16.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 57,254 shares of company stock valued at $5,933,134 over the last three months. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

CCK has been the topic of a number of recent analyst reports. UBS Group raised their target price on Crown from $125.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Sunday. Wells Fargo & Company increased their target price on shares of Crown from $99.00 to $106.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Raymond James Financial reiterated an “outperform” rating and set a $115.00 price target (up from $110.00) on shares of Crown in a research note on Wednesday, October 22nd. Finally, Royal Bank Of Canada lifted their target price on Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.62.

Crown Price Performance

Shares of NYSE CCK opened at $104.12 on Monday. The stock has a fifty day moving average price of $100.26 and a 200 day moving average price of $99.30. Crown Holdings, Inc. has a 1-year low of $75.98 and a 1-year high of $109.48. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.16 and a quick ratio of 0.76. The company has a market cap of $12.01 billion, a PE ratio of 12.89, a P/E/G ratio of 1.20 and a beta of 0.75.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, October 20th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.26. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Crown had a net margin of 7.79% and a return on equity of 26.86%. Crown’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 EPS. Sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, November 6th. This represents a $1.04 annualized dividend and a yield of 1.0%. Crown’s payout ratio is presently 12.87%.

About Crown

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.