Wedge Capital Management L L P NC lowered its stake in Crown Holdings, Inc. (NYSE:CCK) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,097 shares of the industrial products company’s stock after selling 1,199 shares during the period. Wedge Capital Management L L P NC owned 0.11% of Crown worth $7,301,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in Crown in the second quarter valued at approximately $187,000. Pennsylvania Trust Co acquired a new stake in Crown in the third quarter valued at approximately $202,000. Oppenheimer Asset Management Inc. acquired a new stake in Crown in the second quarter valued at approximately $218,000. Levin Capital Strategies L.P. acquired a new stake in Crown in the third quarter valued at approximately $240,000. Finally, Iberiabank Corp acquired a new stake in Crown in the third quarter valued at approximately $240,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.
In other news, Director William S. Urkiel bought 2,500 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was acquired at an average price of $40.25 per share, with a total value of $100,625.00. Following the completion of the purchase, the director now directly owns 46,594 shares of the company’s stock, valued at $1,875,408.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.
A number of equities analysts have recently commented on CCK shares. UBS Group cut their price target on shares of Crown from $59.00 to $50.00 and set a “$44.54” rating on the stock in a report on Thursday, July 19th. Bank of America lowered shares of Crown from a “buy” rating to a “neutral” rating and cut their price target for the stock from $59.00 to $51.00 in a report on Thursday, July 19th. Citigroup cut their price target on shares of Crown from $60.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, July 20th. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price target on shares of Crown in a report on Friday, July 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Crown from $69.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $60.11.
Shares of NYSE:CCK opened at $45.32 on Wednesday. The firm has a market cap of $6.09 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41. The company has a current ratio of 1.14, a quick ratio of 0.68 and a debt-to-equity ratio of 6.82. Crown Holdings, Inc. has a 52 week low of $40.09 and a 52 week high of $62.27.
Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, October 17th. The industrial products company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. Crown had a net margin of 2.81% and a return on equity of 59.62%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. Crown’s revenue was up 28.6% compared to the same quarter last year. Equities analysts anticipate that Crown Holdings, Inc. will post 5.2 earnings per share for the current year.
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Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
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