149,678 Shares in Crown Holdings, Inc. (NYSE:CCK) Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 149,678 shares of the industrial products company’s stock, valued at approximately $14,351,000.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Crown by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock valued at $23,878,000 after purchasing an additional 10,295 shares during the last quarter. Sei Investments Co. grew its position in Crown by 139.2% during the second quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock valued at $9,104,000 after acquiring an additional 71,227 shares during the period. Jensen Investment Management Inc. increased its stake in Crown by 7.8% during the third quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock worth $9,676,000 after acquiring an additional 7,280 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Crown by 22.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 198,984 shares of the industrial products company’s stock worth $15,772,000 after purchasing an additional 36,895 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Crown by 62.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,142 shares of the industrial products company’s stock worth $1,722,000 after purchasing an additional 8,857 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CCK. Royal Bank of Canada boosted their price objective on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Barclays increased their target price on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Robert W. Baird upped their price target on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Truist Financial boosted their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Three 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Insiders Place Their Bets

In other news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The trade was a 7.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock worth $3,157,399 over the last ninety days. Company insiders own 0.90% of the company’s stock.

Crown Stock Performance

CCK stock traded up $0.80 on Thursday, reaching $93.02. The company’s stock had a trading volume of 1,004,544 shares, compared to its average volume of 1,128,236. The firm has a fifty day moving average of $93.59 and a two-hundred day moving average of $87.00. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The company has a market capitalization of $11.13 billion, a P/E ratio of 114.84, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46.

Crown (NYSE:CCK) last issued its quarterly earnings data 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 business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued 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 yield of 1.08%. Crown’s payout ratio is 123.46%.

Crown Company Profile

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.