Symmetry Partners LLC purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,151 shares of the industrial products company’s stock, valued at approximately $472,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen Asset Management LLC bought a new stake in Crown during the 2nd quarter worth about $288,769,000. EdgePoint Investment Group Inc. boosted its position in Crown by 25.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 9,097,806 shares of the industrial products company’s stock worth $555,876,000 after acquiring an additional 1,837,020 shares during the last quarter. William Blair Investment Management LLC boosted its position in Crown by 2,231.4% during the 2nd quarter. William Blair Investment Management LLC now owns 1,523,046 shares of the industrial products company’s stock worth $93,058,000 after acquiring an additional 1,457,718 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Crown by 21.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,166,386 shares of the industrial products company’s stock worth $425,970,000 after acquiring an additional 1,285,895 shares during the last quarter. Finally, Columbus Circle Investors boosted its position in Crown by 207.6% during the 3rd quarter. Columbus Circle Investors now owns 510,251 shares of the industrial products company’s stock worth $33,707,000 after acquiring an additional 344,388 shares during the last quarter. Hedge funds and other institutional investors own 96.32% of the company’s stock.
In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $74.41, for a total value of $744,100.00. Following the sale, the chief operating officer now owns 152,292 shares in the company, valued at approximately $11,332,047.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hock Huat Goh sold 3,125 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $69.79, for a total value of $218,093.75. Following the completion of the sale, the insider now owns 45,548 shares in the company, valued at approximately $3,178,794.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,250 shares of company stock worth $1,873,144. 1.90% of the stock is owned by company insiders.
Shares of NYSE CCK traded up $0.70 during trading hours on Friday, hitting $75.00. The company had a trading volume of 1,214,484 shares, compared to its average volume of 1,723,432. The stock has a market capitalization of $10.20 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.14 and a beta of 1.55. The company has a quick ratio of 0.64, a current ratio of 1.12 and a debt-to-equity ratio of 4.06. Crown Holdings, Inc. has a 1-year low of $39.05 and a 1-year high of $78.29. The firm’s 50 day moving average is $67.30 and its 200-day moving average is $63.04.
Crown (NYSE:CCK) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.01). The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.19 billion. Crown had a net margin of 4.10% and a return on equity of 41.91%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 EPS. On average, sell-side analysts predict that Crown Holdings, Inc. will post 5.02 earnings per share for the current year.
A number of research firms have weighed in on CCK. Wells Fargo & Co upped their price target on Crown from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup set a $79.00 price target on Crown and gave the stock a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets upped their price target on Crown from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday. Deutsche Bank upped their price target on Crown from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price objective on Crown from $56.00 to $72.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.09.
Crown Company Profile
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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