Pensionfund Sabic Acquires New Stake in Crown Holdings, Inc. (NYSE:CCK)

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

Other hedge funds also recently bought and sold shares of the company. Creative Planning boosted its stake in shares of Crown Holdings by 1.3% during the 2nd quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 23 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Crown Holdings by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,625 shares of the industrial products company’s stock worth $668,000 after acquiring an additional 144 shares during the period. Toronto Dominion Bank boosted its stake in shares of Crown Holdings by 12.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 185 shares during the period. James Investment Research Inc. boosted its stake in shares of Crown Holdings by 2.0% during the 2nd quarter. James Investment Research Inc. now owns 17,700 shares of the industrial products company’s stock worth $1,056,000 after acquiring an additional 340 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Crown Holdings by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,103 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 351 shares during the period. Hedge funds and other institutional investors own 90.21% of the company’s stock.



CCK has been the subject of several research analyst reports. BMO Capital Markets reiterated a “buy” rating and set a $65.00 target price on shares of Crown Holdings in a research note on Monday, September 4th. Deutsche Bank AG reiterated a “hold” rating and set a $61.00 target price (up from $58.00) on shares of Crown Holdings in a research note on Tuesday, July 18th. Zacks Investment Research downgraded Crown Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Wells Fargo & Company lifted their target price on Crown Holdings from $57.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Finally, Barclays PLC lifted their target price on Crown Holdings from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.20.

Crown Holdings, Inc. (NYSE CCK) traded down 1.06% during mid-day trading on Friday, reaching $58.90. The company had a trading volume of 436,167 shares. The stock has a market capitalization of $7.97 billion, a PE ratio of 16.87 and a beta of 1.40. Crown Holdings, Inc. has a one year low of $51.57 and a one year high of $61.61. The company’s 50-day moving average is $60.22 and its 200-day moving average is $58.36.

Crown Holdings (NYSE:CCK) last announced its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $1.41 earnings per share for the quarter, meeting the consensus estimate of $1.41. Crown Holdings had a return on equity of 65.80% and a net margin of 5.64%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the company earned $1.33 earnings per share. Crown Holdings’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Crown Holdings, Inc. will post $4.03 earnings per share for the current year.

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About Crown Holdings

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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