462 Shares in Crown Holdings, Inc. (NYSE:CCK) Purchased by Brooklyn Investment Group

30 Nov 2024, 11:10 by Michael Walen · The Markets Daily

Brooklyn Investment Group purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 462 shares of the industrial products company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC lifted its position in Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after buying an additional 749,085 shares in the last quarter. Dai ichi Life Insurance Company Ltd acquired a new position in Crown during the 3rd quarter valued at about $568,000. Qsemble Capital Management LP lifted its position in Crown by 31.5% during the 3rd quarter. Qsemble Capital Management LP now owns 11,113 shares of the industrial products company’s stock valued at $1,066,000 after purchasing an additional 2,659 shares during the period. Bank of Montreal Can lifted its position in Crown by 672.7% during the 3rd quarter. Bank of Montreal Can now owns 111,426 shares of the industrial products company’s stock valued at $10,557,000 after purchasing an additional 97,006 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its position in Crown by 6.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 21,201 shares of the industrial products company’s stock valued at $2,033,000 after purchasing an additional 1,353 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CCK shares. Loop Capital upped their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Truist Financial upped their target price on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Wells Fargo & Company upped their target price on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Robert W. Baird upped their target price on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada upped their price target on Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.62.

Read Our Latest Analysis on Crown

Crown Price Performance

NYSE CCK opened at $92.09 on Friday. The business has a 50 day simple moving average of $93.53 and a 200 day simple moving average of $87.10. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 113.69, a PEG ratio of 2.06 and a beta of 0.85.

Crown (NYSE:CCK – Get Free Report) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Analysts anticipate that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Crown’s dividend payout ratio is currently 123.46%.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the transaction, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This represents a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock valued at $3,157,399 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

About Crown

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