Pensionfund Sabic Purchases New Stake in Crown Holdings, Inc. (CCK)

Pensionfund Sabic purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,100 shares of the industrial products company’s stock, valued at approximately $1,618,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Creative Planning increased its position in shares of Crown Holdings by 1.3% during the second quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 23 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Crown Holdings by 1.2% during the first quarter. PNC Financial Services Group Inc. now owns 12,625 shares of the industrial products company’s stock valued at $668,000 after acquiring an additional 144 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Crown Holdings by 12.1% during the second quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 185 shares in the last quarter. James Investment Research Inc. increased its position in shares of Crown Holdings by 2.0% during the second quarter. James Investment Research Inc. now owns 17,700 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 340 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Crown Holdings by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,103 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 351 shares in the last quarter. 90.15% of the stock is owned by institutional investors.

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Several brokerages recently weighed in on CCK. BidaskClub downgraded shares of Crown Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Jefferies Group LLC set a $70.00 price target on shares of Crown Holdings and gave the company a “buy” rating in a research report on Monday, August 28th. Deutsche Bank AG reissued a “hold” rating and set a $61.00 price target (up previously from $58.00) on shares of Crown Holdings in a research report on Tuesday, July 18th. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 price target on shares of Crown Holdings in a research report on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.56.

Shares of Crown Holdings, Inc. (CCK) traded up 0.25% during midday trading on Wednesday, reaching $60.19. 224,634 shares of the company traded hands. The company has a 50 day moving average price of $59.87 and a 200 day moving average price of $57.98. Crown Holdings, Inc. has a 1-year low of $51.57 and a 1-year high of $61.39. The company has a market capitalization of $8.14 billion, a PE ratio of 17.24 and a beta of 1.40.

Crown Holdings (NYSE:CCK) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.02. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the business posted $1.19 EPS. Crown Holdings’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts expect that Crown Holdings, Inc. will post $4.03 earnings per share for the current year.

Crown Holdings Company Profile

Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.

Institutional Ownership by Quarter for Crown Holdings (NYSE:CCK)

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