Claro Advisors LLC Buys New Shares in Crown Holdings, Inc. (NYSE:CCK)

Claro Advisors LLC purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,773 shares of the industrial products company’s stock, valued at approximately $266,000.

A number of other large investors also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Crown by 110.9% during the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Crown in the 1st quarter valued at about $41,000. Covestor Ltd increased its stake in shares of Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Crown by 172.6% in the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 385 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in Crown during the third quarter worth about $48,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Stock Up 0.2 %

NYSE CCK opened at $89.53 on Wednesday. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 110.53, a PEG ratio of 1.99 and a beta of 0.85. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company has a 50 day moving average of $93.54 and a 200-day moving average of $86.68.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. On average, equities research analysts expect that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. Crown’s payout ratio is 123.46%.

Analysts Set New Price Targets

Several analysts have issued reports on CCK shares. Mizuho set a $110.00 price objective on Crown in a research note on Friday, October 18th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Barclays upped their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Truist Financial raised their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Loop Capital upped their price target on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Insider Buying and Selling at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now owns 563,678 shares in the company, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $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 have sold a total of 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 company 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.