Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,702 shares of the industrial products company’s stock after selling 300 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Crown were worth $373,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its holdings in Crown by 10.3% in the first quarter. Mutual of America Capital Management LLC now owns 153,739 shares of the industrial products company’s stock worth $12,185,000 after purchasing an additional 14,362 shares during the period. Vanguard Group Inc. lifted its stake in Crown by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after buying an additional 173,460 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Crown by 245.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock valued at $5,784,000 after buying an additional 44,630 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Crown by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,320,502 shares of the industrial products company’s stock valued at $121,614,000 after buying an additional 44,195 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Crown in the fourth quarter valued at $3,122,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Up 1.5 %

CCK opened at $88.69 on Thursday. The business has a 50 day moving average price of $79.24 and a 200 day moving average price of $80.05. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $94.78. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The firm has a market cap of $10.70 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Crown (NYSE:CCK) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the company earned $1.68 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Research analysts forecast that Crown Holdings, Inc. will post 6.15 EPS for the current year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Crown’s dividend payout ratio (DPR) is presently 28.82%.

Analysts Set New Price Targets

CCK has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Citigroup lifted their price objective on shares of Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company lifted their target price on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Bank of America lifted their target price on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.21.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total transaction of $637,500.00. Following the sale, the chief executive officer now directly owns 608,678 shares in the company, valued at $51,737,630. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the sale, the chief executive officer now directly owns 608,678 shares in the company, valued at $51,737,630. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the sale, the chief executive officer now owns 593,678 shares in the company, valued at $50,480,440.34. The disclosure for this sale can be found here. Insiders sold a total of 31,500 shares of company stock worth $2,659,320 over the last three months. 0.90% of the stock is currently owned by insiders.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.