Strs Ohio boosted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 304.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 365,206 shares of the industrial products company’s stock after acquiring an additional 275,000 shares during the period. Strs Ohio owned 0.27% of Crown Holdings worth $21,810,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CCK. BlackRock Inc. lifted its holdings in Crown Holdings by 5,730.2% during the 1st quarter. BlackRock Inc. now owns 8,156,399 shares of the industrial products company’s stock worth $431,880,000 after buying an additional 8,016,500 shares during the period. Janus Henderson Group PLC lifted its holdings in Crown Holdings by 6,932.0% during the 2nd quarter. Janus Henderson Group PLC now owns 6,536,851 shares of the industrial products company’s stock worth $389,988,000 after buying an additional 6,443,892 shares during the period. Lazard Asset Management LLC lifted its holdings in Crown Holdings by 8.7% during the 2nd quarter. Lazard Asset Management LLC now owns 10,225,857 shares of the industrial products company’s stock worth $610,074,000 after buying an additional 819,689 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Crown Holdings by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 4,005,148 shares of the industrial products company’s stock valued at $238,947,000 after purchasing an additional 584,647 shares during the period. Finally, Quantitative Investment Management LLC acquired a new position in shares of Crown Holdings in the 2nd quarter valued at about $24,544,000. Institutional investors own 90.91% of the company’s stock.
Crown Holdings, Inc. (CCK) remained flat at $$59.15 during trading on Friday. 764,400 shares of the company were exchanged, compared to its average volume of 797,939. Crown Holdings, Inc. has a 12-month low of $51.57 and a 12-month high of $61.61. The company has a quick ratio of 0.57, a current ratio of 1.04 and a debt-to-equity ratio of 4.60. The firm has a market cap of $7,942.24, a PE ratio of 14.94, a P/E/G ratio of 2.10 and a beta of 1.44.
Crown Holdings (NYSE:CCK) last posted its earnings results on Wednesday, October 18th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Crown Holdings had a return on equity of 60.44% and a net margin of 5.64%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 earnings per share. research analysts anticipate that Crown Holdings, Inc. will post 4.03 EPS for the current year.
A number of research analysts have recently issued reports on CCK shares. BMO Capital Markets reissued a “buy” rating and issued a $65.00 price objective on shares of Crown Holdings in a research note on Monday, September 4th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $61.00 target price (up from $58.00) on shares of Crown Holdings in a research report on Tuesday, July 18th. Zacks Investment Research lowered Crown Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Wells Fargo & Company boosted their target price on Crown Holdings from $57.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. Finally, Barclays PLC boosted their target price on Crown Holdings from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.20.
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Crown Holdings 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.
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